From the education of children to the cost of their marriage, investment in the right plan is necessary. In such a situation, Sukanya Samriddhi Yojana and Public Provident Fund (PPF) can be good options. So what are these schemes and know how to invest?
To meet the needs of the future, it is very important to invest in the right scheme. This helps children from their education to their marriage. In such a situation, if you also want to invest your money, then Sukanya Samriddhi Yojana (Sukanya Samriddhi Yojana) or Public Provident Fund (PPF) scheme operated by the post office can be beneficial. It also offers other facilities with better returns. So which scheme is more profitable and how to invest in it, know the whole process.
What is Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana run by the post office is quite popular. It was started for the bright future of girls. It helps in the education of daughter from marriage to marriage. Its maturity period is 21 years, but the investment has to be made for only 14 years. The daughter’s age should be less than 10 years for the application.
How much investment will have to be made
Under Sukanya Samriddhi Yojana, a minimum amount of 250 rupees has to be deposited in the account every year. While its maximum limit is 1.5 lakh rupees. If the beneficiary has not deposited the minimum amount in any year, then his account will be closed. However, by filling a form, the account holder can restart the account. During this time, you will have to deposit Rs 50 as penalty along with the amount deposited.
Benefits of the scheme
Under this scheme, the account can be operated till the daughter is 18 years or 21 years old. If you want, you can withdraw 50% of the total deposit for the daughter’s education when she is 18 years old. At the same time, after 21 years of the daughter, she can withdraw the entire amount of money for her marriage. During this time, you will also get interest on the amount of money. Earlier there was more interest in it. But since the Corona period, some cuts have been made in it. Now about 7.6 percent interest is being given in it.
What is PPF Account
It is a popular investment scheme for a long time. Being supported by the Government of India, it is a safe investment plan. Its maturity period is 15 years. If you want, you can get it even further for 5-5 years. Investments up to Rs 1.5 lakh per annum in PPF account are tax-exempt under Section 80C. Also, there is no tax on interest income. In this, the amount received on maturity also does not come under the tax net.
Where can you open an account
You can open a PPF account in any government bank or post office. These accounts can also be opened online. Under this scheme, the interest rate is reported by the Government of India every three months. It has been cut now. Under this, the interest will be 5.5 percent on the term deposit of one to three years, which was 6.9 percent till now.
