Children’s Day: From PPF to real estate, 8 investment options you can choose from, for your child

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₹500 per financial year, while the maximum deposit amount is ₹1.5 lakh. Depositors have the flexibility to opt for monthly, quarterly, or half-yearly installments. The government determines the interest rate on PPF deposits every quarter.

The current interest rate stands at 7.1 percent per annum. The interest is compounded annually, meaning that the interest earned is added to the principal amount at the end of each financial year. Subsequently, the interest is calculated on the new principal amount in the following financial year.

Investing in PPF presents an excellent choice for securing children’s financial futures, offering several advantages, including: Here are some guidelines for utilising PPF to ensure your child’s financial well-being. The Sukanya Samriddhi Yojana (SSY) is a government-supported savings initiative specifically tailored for female children. Introduced in 2011 as part of the Beti Bachao Beti Padhao (BBBP) campaign, the scheme’s primary aim is to motivate parents to save for the future well-being of their daughters.

SSY accounts can be initiated by any Indian citizen, including minors, at post offices or authoribed bank branches. The minimum monthly deposit is ₹250, and the maximum annual deposit is ₹1.5 lakh. Deposits can be made through cash, cheque, or demand draft.

The government adjusts the interest rate on SSY deposits quarterly, with the present rate standing at eight percent per annum. The interest is compounded annually, indicating that the interest earned is added to the principal amount at the conclusion of each financial year, and the subsequent year’s interest is calculated on the new principal amount. SSY accounts are designed for a minimum tenure of 21 years or until the girl child