Investment Planning For Girl Child: Where to invest for your girl child’s future?

financialexpress.com:

Investment planning for a girl child involves a strategic approach focused on securing her financial future. Fortunately, there are many investment avenues available for one’s girl child in India, which includes a range of financial products offering long-term growth potential and tax benefits. These avenues help parents build a strong financial base to secure their’s girl child’s future needs, such as marriage or education.

You may begin by opening a Sukanya Samriddhi Account for tax-free savings, offering attractive interest rates tailored for education and marriage expenses. Also consider investing in mutual funds, specifically ELSS, providing potential growth and tax benefits. Diversify by allocating funds to Gold ETFs, serving as a stable asset against inflation.

Ensure her financial security with term insurance or child-specific plans. Opt for a PPF account to accumulate wealth. You may have a diversified portfolio aligned with long-term goals. Regularly monitor and adapt investments to changing circumstances. This balanced strategy, including government schemes, diverse investments, and insurance, fosters a secure and prosperous future for your child. Here are some of the investment options:

This government-backed savings scheme is specifically designed for girl children. It offers high interest rates and tax benefits, making it an ideal long-term investment option.

Adhil Shetty, CEO, Bankbazaar.com, says, “Sukanya Samriddhi Yojana accounts offer high-interest rates compared to other schemes. Currently, the rate stands at 8% p.a. This is a government-backed scheme. Therefore, you have an assurance of returns upon maturity. The interest that accrues on scheme, compounded annually, is exempt from tax under the