List of 10 Best Investment Plans for a Girl Child in India 2022 with High Returns
Parents who want to ensure a better future for their girl child should consider choosing some investment options. These should be ideal for their higher education and other purposes that will help overcome unwanted problems. On the other hand, parents should know more about the details of plans with more attention. This, in turn, gives ways to make the right decision while investing money. Post offices and banks offer various investment options for a girl child in India that will help gain more advantages. However, it is essential to evaluate them properly, which gives ways to choose a scheme according to needs.
List of 10 Best Investment Plans for a Girl Child in India 2022
Let’s know about the 10 best investment plans for your girl child in India and their benefits as mentioned below:-
- Sukanya Samriddhi Yojana (SSY)
- Children Gift Mutual Fund
- National Savings Certificate (NSC)
- Post-Office Term Deposit (POTD)
- Unit Linked Insurance Plan (ULIP)
- Systematic Investment Plan (SIP)
- Post-Office Recurring Deposit
- Public Provident Fund (PPF)
- Gold ETFs
- Fixed deposit (FD)
1. Sukanya Samriddhi Yojana (SSY)
Sukanya Samriddhi Yojana, shortly known as SSY, is a saving scheme for girl child available in India. Parents can open this scheme in the name of their daughter in a bank. The current interest rate for this scheme is 7.6% and is subject to frequent changes. Therefore, it is wise to check the interest rates while opening an account. A family can have only two accounts, one for each daughter, and the account matures when the girl turns 21 years. The minimum investment amount for this plan is Rs. 1000, and the maximum amount is Rs. 1.5 lakhs annually.
2. Children Gift Mutual Fund
Children gift mutual fund is a type of investment scheme available for a girl child in India that involves a combination of equity and debt instruments. However, the scheme has a lock-in period of 18 years that can help generate high returns. Moreover, monitoring the scheme is easy and straightforward, which gives ways to secure the future of a girl child.
3. National Savings Certificate (NSC)
National savings certificate (NSC) is a post-office scheme for girls that comes with several features. It provides a fixed-rate income with guaranteed returns, thereby showing ways to generate high revenues. The current interest rate for this scheme is 7.6%. The minimum amount to invest in this plan is Rs.1000 and has no maximum limit. The tenure is 5 years that provides tax benefits. It is also possible to transfer the account from one individual to another with ease.
4. Post-Office Term Deposit (POTD)
Post-office term deposit (POTD) is the best investment plan for a girl child that comes with a lock-in period of 5 years. The plan allows parents to transfer the account anywhere within the country. At the same time, the interest rates may change anytime, and parents should check them before opening an account. The minimum deposit amount is Rs.1000 and has no maximum limit.
5. Unit Linked Insurance Plan (ULIP)
Unit Linked Insurance plan, shortly known as ULIP, is a good investment plan for a girl child because it offers high returns. It comes with a combination of life insurance with investment options that offer triple benefits:
- The insurer pays the future premiums on the parent’s death.
- An insurance company provides a monthly income to fund a child’s education when the parents are not around.
- A child will get a lump sum payout on the parent’s death to meet daily expenses.
Many insurance companies offer different types of ULIP plans for a girl child that will help generate more income. However, parents should evaluate them to choose the right plan which suits a girl child.
6. Systematic Investment Plan (SIP)
A systematic investment plan (SIP) is a mutual fund scheme that is one of the investment options for girl child available in India. A bank will invest the amount in equity, debt, or mixed funds that provide ways to increase the income to a large extent. SIP is the right choice for parents to ensure better returns after investing money.
7. Post-Office Recurring Deposit
A post-office recurring deposit is the best investment plan for a baby girl that has a tenure of 5 years. However, parents can extend the plan further that will help generate high returns and revenues. It is a risk-free investment option available for parents that give ways to secure a girl’s future. Besides that, the plan contributes more to meet essential needs in financial planning to overcome unwanted problems significantly.
8. Public Provident Fund (PPF)
The public provident fund, shortly known as PPF, is the best investment plan for a girl child’s future in India. The plan has a minimum tenure of 15 years, and parents can extend the same further for another 5 years. Parents can open a PPF account in either a post office or bank, and the minimum investment plan is Rs. 500. The maximum amount for this plan is 1.5 lakhs annually, with an interest rate of 6.4% per annum. Besides that, parents can avail of a loan facility against the loan amount. It is wise to know the requirements and other things while applying for a loan.
9. Gold ETFs
Gold ETFs are the most practical investment options available for a girl child in India that gives ways to gain more benefits. Rather than buying gold physically, parents can invest money in gold funds to trade them in the stock markets. This will help a lot to earn high income effectively that increases cash flow. Furthermore, there is no need to rent lockers or have a fear of theft. A gold ETF is the best one-time investment plan for the girl child in India for parents that provide ways to ensure better returns. Another thing is that it paves the way to overcome financial problems during difficult situations.
10. Fixed deposit (FD)
Fixed deposit is the best savings plan designed for a girl child enabling parents to increase their income. Although the interest rates are very low, it is a zero-risk investment option available for a baby girl. At the same time, it is not possible to withdraw money early after opening an account. Also, it provides ways to ensure a secured future for a girl child.
Therefore, if you are looking to secure your daughter’s future, consider the above-mentioned investment options.