Best saving scheme for children

Hema Kulkarni

KF Mentor
Can someone recommend a savings scheme for newborns till 21 years of age
You can try Sukanya Samriddhi Yojana for Girl Child, but it has some withdrawal restrictions. For boy, there are very few good schemes out there (PPF, National Savings Scheme). Private players have many children specific schemes but most of them are Insurance + Investment schemes with low returns. Best option for you is FD if you want fixed returns

Sagar Bomble

KF Rookie
Agreed with Hema's advice.
Also you can consider to invest some of the money in mutual funds for long term as the index will give you good returns in 5-10 years and if required in emergency you can easily withdraw it.