If you want to secure the future of your children, then you can invest in these schemes, know full details

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    New Delhi, Business Desk. The Corona crisis has shown us how much saving is important in the lives of all of us. We cannot move forward in today’s time without financial planning. At the same time, you will agree that in today’s time education and healthcare facilities have become expensive. In such a situation, if you are planning to save financially, then it is better that you plan for your children’s education and especially higher education. However, you also have the option of saving in the name of children. You can invest in schemes like Sukanya Samriddhi Scheme and PPF for children.

    Let us know which schemes you can invest in for the better future of your children and what is the specialty of those schemes:



    1. Sukanya Samriddhi Scheme: As it is clear from the name itself, this scheme is for girls. In such a situation, if you have a daughter, then this is a very good investment option for you. You get better interest on investing in this scheme than many other schemes. Presently, the government is paying 7.6 percent interest on this scheme. The interest received on this scheme is reviewed by the government on a quarterly basis. SSY Account is matured in 21 years. At the same time, contributions have to be made for 15 years in this scheme. Partial withdrawals can also be done before maturity after the child attains the age of 18 years. At the same time, if the girl gets married after the age of 18, then this scheme can be discontinued even before 21 years. At the same time, you also get an exemption under Section 80C of the Income Tax Act for investing in this fund.



    Also read: Know who got Rs 20 lakh crore, which schemes got Sanjeevani

    2. PPF: Public Provident Fund (PPF) is also a good plan for long-term investment. PPF account is also matured in 15 years. Many banks in the country, including State Bank, Canara Bank, offer the facility of opening PPF accounts. If you do online banking, you can open PPF account online. Up to Rs 1.5 lakh can be invested in this scheme in a year. You can also open a PPF account in the name of your minor child. However, overall you cannot cross the Rs 1.5 lakh annual limit. Contribution made in PPF is also exempt from tax. The investment in this scheme now fetches interest at the rate of 7.1 per cent.



    3. Mutual Funds : SIP is a good investment option to get good returns in long term. Higher education and marriage of children is a long-term goal, so any person can invest in equity mutual funds with these goals. For this, parents can open a mutual fund folio in the name of a minor child as a joint account cannot be opened in a mutual fund. At the same time, a parent or legally guardian is made a custodian of the account by opening a mutual fund in the name of a minor.

     

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