An informed and analytical investment decision aids in offering higher investment benefits in the long run. Before investing in any tool, you must consider certain basics such as the goal of the investment, the returns and rate of interests offered, risks involved etc. And basis of your requirement, you must consider an option.Read more
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There are a host of private institutions offering good investment avenues. However, public sector is also not left behind in introducing best investment options with higher returns. And when it comes to offering the safest investment avenues, two options that has been gaining popularity eventually are Sukanya Samridhi Yojana (SSY) and Public Provident Fund (PPF).
Both the schemes are introduced by the Government of India for long-term investment goals. As they are owned by the government, the returns are fully secured and eligible for earning tax benefits as well. Having said that it is prudent to know a bit of these investments before parking your money into them.
Not to mention, there are some alluring features that make them highly preferred investment options over the others. Some of the key highlights of these investment tools are:
|Parameters||Sukanya Samridhi Yojana||Public Provident Fund|
|Who can open||A parent of a girl child||An Indian citizen can apply. Minor accounts are also available|
|Minimum Deposit||Rs 250||Rs 500|
|Maximum Deposit||Rs 1.5 lakh||Rs 1.5 lakh|
|Maturity Period||21 years||15 years|
|Age Eligibility||Till the girls turns 10 years||No upper age limit|
|Rate of Interest||8.4%||7.9%|
Despite being the govt.-owned investment schemes, these accounts differ from each other in many ways:
On the other hand, the offered ROI in PPF for current year is 7.9%, where the calculation is done based on the lowest balance available in the account in 5th to the last day of the month.
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