TOP 8 INVESTMENT OPTIONS FOR GIRL CHILD IN INDIA

As a parent, your role extends beyond providing for your child’s immediate needs; it involves preparing for their future, especially in a rapidly evolving financial landscape. In India, this responsibility is particularly significant for parents with girl child, given the changing cultural and traditional dynamics. To ensure a secure financial future for your daughter, it’s crucial to explore and invest in the right options. Here, we highlight the top 8 child investment plans in India that can help you secure your daughter’s future:

1. Sukanya Samriddhi Yojana (SSY)

Designed specifically for girl children, SSY offers attractive interest rates (7% to 8% compounded annually) and tax benefits. The account matures when the girl child is married or turns 21, providing a financial cushion for her future.

2. Children Gift Mutual Fund

This scheme, offered by the India Post Department, allows investments in debt-oriented and equity-oriented hybrid mutual funds in the child’s name. It considers factors like financial goals and risk tolerance, offering flexibility and potential returns.

3. Unit Linked Insurance Plan (ULIP)

ULIP combines insurance with investment, providing life cover and market-linked returns. With options like equity, debt, and balanced funds, ULIP allows parents to tailor investments according to their risk appetite.

4. National Savings Certificate (NSC)

NSC, sponsored by the government, offers a safe investment avenue for minors. With a competitive interest rate of 6.8% per annum and tax benefits under Section 80C, NSC is a reliable option for long-term savings.

5. Post Office Term Deposit

A secure investment option, this scheme offers a fixed interest rate with varying maturity periods. It allows parents or guardians to invest in the name of the minor child, ensuring financial security for the future.

6. Systematic Investment Plan (SIP)

SIPs are ideal for building a corpus for your daughter’s future education and other financial needs. With low starting amounts and the power of compounding, SIPs instill a habit of regular saving and disciplined investment.

7. Fixed Deposit (FD)

FDs provide a safe and guaranteed return on investment, making them a popular choice for parents. Specialized FDs for girls offer added benefits, making them suitable for saving for higher education or marriage expenses.

8. Public Provident Fund (PPF)

PPF offers a long-term savings option with tax benefits. Parents can open an account for their daughter with a minimum investment, ensuring a secure financial future.

CONCLUSION

Investing in your daughter’s future is an essential part of responsible parenting. By choosing the right investment plans tailored to her needs, you can secure her financial well-being and help her achieve her life goals. Start planning today to ensure a brighter tomorrow for your girl child.

Consider Reading – FINANCIAL BENEFITS FOR WOMEN