The right kind of investment of your hard-earned money is necessary, but when it comes to your child, making investments that secure their future is of utmost importance. The primary stress for the parents of a girl child in India is to bear the financial burden of their future education and marriage expenses. Long-term planning and investment are required to safeguard the future of your girl child and create a decent financial corpus for the parents at the time of need.
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Invest ₹10k/month and your child gets ₹1 Cr tax free*
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*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Nothing Is More Important Than Securing Your Child's Future
Invest ₹10k/month your child will get ₹1 Cr Tax Free*
In this article, you will get to know about some of the best investment plans for your girl child in India and their benefits.
SSY is launched under the “Beti Bachao Beti Padhao” plan by the Indian Prime Minister in the year 2015. The main objective of the scheme is to safeguard the future of the child by building a financial corpus for the future.
Here are some top features of the SSY Scheme
It is important to know that there is no such plan as the LIC Kanyadan Policy launched by the Life Insurance Corporation of India. It is a customized version of the LIC Jeevan Lakshya plan just to bring more focus on the protection of girl children. This savings plus protection plan provides a decent financial corpus for your girl child’s financial future with affordable premiums.
LIC Kanyadan Policy Features
Benefits under the plan are as follows:
Sum Assured (Minimum) |
100,000 |
Sum Assured (Maximum) |
No Limit |
(The Basic Sum Assured shall be in multiples of Rs.10,000) |
|
Policy Tenure |
13 to 25 years |
Premium Payment Tenure |
(Policy Term - 3) years |
Entry age (Minimum) |
18 years (completed) |
Entry age (Maximum) |
50 years |
Maturity Age (Maximum) |
65 years |
Minimum Age of Girl child |
1 year |
PPF (Public Provident Fund) is also a great investment option for your child and comes with a 15-year tenure. This long-term investment plan helps parents create a strong financial corpus for their children, be it a girl or a boy. The accumulated amount in the PPF can be used for marriage, educational expense, etc. depending upon the need of the child.
Features under the PPF are as follows:
Parameters |
Public Provident Fund |
Rate of Interest |
7.1% (Q1 FY 2021-22) |
Entry Age |
15 Years |
Amount Payable on entry |
Rs.100/- |
Minimum Deposit |
Rs.500/- |
Maximum Deposit |
Rs.1,50,000/- |
Tax Benefit |
Rs.1,50,000/- |
Maturity |
15 years |
Premature Termination |
After 5 financial years |
Nomination |
Yes |
Loan |
Yes |
All plans and policies come with benefits and attractive features. The main decision is up to you and your child's needs. It is important to understand all the investment plans carefully before investing your hard-earned money in any kind of plan.
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