Sanjeev Phukan
KF Ace
I want to invest 1 lakh for my 6 year old girl Child . Which shall me a smart investment. FD or Sukanya Samriddhi.???
Hands down sukanya samriddhi - only catch is you have to pay for longer term.. And will be good as you will buiild a savings habit.. the girl child will benefit.. Biggest advantage, is fully tax free upto 1.5L p. a even the maturity amount and interest rates keep getting reset.. best for girl childI want to invest 1 lakh for my 6 year old girl Child . Which shall me a smart investment. FD or Sukanya Samriddhi.???
Feature | Sukanya Samriddhi Yojana (SSY) | Fixed Deposit (FD) |
---|---|---|
Interest Rate | 8.6% (subject to change) | Lower than SSY |
Tax Benefits | Yes (Section 80C) | No |
Maturity Period | 21 years | Flexible |
Liquidity | Limited withdrawal after 18 years | More flexible, may allow premature withdrawal |
Every yearHere's a quick comparison to help you decide:
Feature Sukanya Samriddhi Yojana (SSY) Fixed Deposit (FD) Interest Rate 8.6% (subject to change) Lower than SSY Tax Benefits Yes (Section 80C) No Maturity Period 21 years Flexible Liquidity Limited withdrawal after 18 years More flexible, may allow premature withdrawal
For a long-term investment with the tax advantages, Sukanya Samriddhi appears to be a good choice. However, if you require greater flexibility in terms of taking out your money or if you want a shorter investment period, an FD (Fixed Deposit) might be more appropriate.
- in between are saying you'll deposit 1 lac every year? or one time deposit?
You done need to visit any branch now a days many banks offer this faciulity over the net banking and mobile banking application also, such as ICICI and BOB. wherein at BOB, one can have Sukaniya Yojana, KVP, NPS, PPF etc.I don't invest in post office as the withdrawals are very difficult , I had a kvp to be matured on 1st March 2024, but till today 15 April they are saying that are systems are not working , so I only invest in mutual funds now
You Have To Go For FD..I want to invest 1 lakh for my 6 year old girl Child . Which shall me a smart investment. FD or Sukanya
Hi, Good EveningI want to invest 1 lakh for my 6 year old girl Child . Which shall me a smart investment. FD or Sukanya Samriddhi.???