Best Investment Plans for Girl Child in India

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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In this article, you will get to know about some of the best investment plans for your girl child in India and their benefits.

Sukanya Samriddhi Yojana Scheme

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.

  1. Sukanya Samriddhi Yojana (SSY) Features

    Here are some top features of the SSY Scheme

    • The Indian government has specifically launched this program for girls
    • Account for daughters who are below 10 years can be generated by parents or guardians
    • Policy term is till the marriage of the child (girl) after 18 years or 21 years of age (whichever early)
    • 7.6% interest rate is compounded annually
    • Section 80C of the Income Tax Act is applied for the exemption of Income Tax
    • From minimum Rs.250 up till Rs.1,50,000 lakh, maximum can be put annually
    • The account is opened in the name of girl child only
    • A maximum of 2 Sukanya Samriddhi Yojana accounts are allowed per family
  2. Sukanya Samriddhi Yojana (SSY) Benefits

    • The interest rate is higher compared to other schemes
    • Income tax is exempted
    • The policy also has a lock-in period
    • Eligibility to make partial withdrawals
    • Guaranteed maturity benefits
    • Interest is paid even after the policy matures

LIC Kanyadan Policy

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

  1. Features under the LIC Kanydan policy are as follows:

    • Girl child’s financial security
    • Lump-sum maturity benefit provided to the policyholder
    • Premium is waived off in case of the untimely demise of the policyholder
    • Rs.10 lakhs are deposited immediately in case of accidental demise of the policyholder
    • Till the time of maturity, Rs.50,000 is paid every year 
    • Maturity amount is deposited only after the completion of the policy tenure
    • LIC Kanyadan policy is for both NRIs (Non-Indian Residents) and PIOs (Person of Indian Origin)
  2. LIC Kanyadan Policy Benefits

    Benefits under the plan are as follows:

    • Premium payment term is fixed during the commencement of the policy 
    • Duration of payment of policy and premium have 3 years’ difference
    • Payments can be made monthly, quarterly, semi-annually, and annually 
    • If the policyholder dies during the policy tenure, 10% of Sum Assured is to be paid every year till the maturity date (excluding the last year)
    • Maturity tenure can be chosen from 13 years to 25 years at your convenience
    • 6 years, 10 years, 15 years, or 20 years’ plan can be opted for
    • Additional benefits in case of demise during the policy tenure, only if the policy is active 
    • Additional Disability Rider benefit is available
    • A loan can be taken but only after payment of premiums for a minimum of 3 years (without gap)
  3. Eligibility Conditions and Other Restrictions

    Sum Assured (Minimum)


    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

Public Provident Fund

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.

  1. Public Provident Fund Features

    Features under the PPF are as follows:

    • Offers great returns in the long run
    • Any individual can open the PPF account in their name 
    • The account can be opened on behalf of minors also
    • The lock-in period is for 15 years
    • Rs.500 is the minimum amount to be deposited every year
    • Rs.1,50,000 is the maximum amount to be deposited every year
    • Maximum of Rs.1,50,000 tax benefit can be availed under Section 80C of the Income Tax Act
    • The annual interest rate is 7.1%
    • A Public Provident Fund account can be opened in any bank or post office offering this service
    • Complete withdrawal can be made only after the date of maturity
    • 50% amount can be withdrawn only after 6 complete active policy years
  2. Eligibility Conditions


    Public Provident Fund

    Rate of Interest

    7.1% (Q1 FY 2021-22)

    Entry Age

    15 Years

    Amount Payable on entry


    Minimum Deposit


    Maximum Deposit


    Tax Benefit



    15 years

    Premature Termination

    After 5 financial years





In The End!

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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