SSY vs PPF: Which scheme is more beneficial PPF or SSY? know where you will get more benefits


PPF vs SSY: With the birth of a child, nowadays parents start planning for his future. The central government runs many savings schemes to make girls and women self-reliant.

- Advertisement -
WhatsApp Channel Join Now
Telegram Group Join Now
Instagram Group Follow Now

By investing in these schemes, a big fund is received in the long run. If a girl child is born in your house too and you want to invest for her future, then Public Provident Fund and Sukanya Samriddhi Yojana both are very popular investment schemes. By investing in it, you can get strong returns.

Who can invest in SSY and PPF?

Significantly, Sukanya Samriddhi Yojana has been specially designed for girls below 10 years of age. By investing in this, the girl child gets a hefty fund after the age of 21 years. At the same time, any person can invest in the Public Provident Fund Scheme. Along with this, PPF account can also be opened for a girl child above 10 years of age.

What is the lock in period in both the schemes

In Sukanya Samriddhi Yojana, SSY can be opened in any bank or post office for a girl child from birth to 10 years. In such a situation, the maximum limit of investment in this scheme is 21 years. On the other hand, if we talk about Public Provident Fund Scheme, then the total investment period in it is 15 years. SSY account can be closed even before marriage after the girl child turns 18. On the other hand, talking about PPF account, the period of investment in it can be extended for 5 years after 15 years.

How much can be invested in both the schemes

You can invest from Rs 250 to Rs 1.5 lakh in a financial year in Sukanya Samriddhi Yojana account. On the other hand, talking about Public Provident Fund, in this scheme you can invest from a minimum amount of Rs 500 to Rs 1.5 lakh in a year. Along with this, tell that under both the schemes you can open an account in any post office or bank.

Know how much interest is being received on both

On investing in Sukanya Samriddhi Yojana, you are getting an interest rate of 8 percent. This interest is transferred to the account on a quarterly basis. At the same time, interest is available on PPF account at the rate of 7.1 percent.

In such a situation, if you want to invest in any one scheme, then Sukanya Samriddhi Yojana can prove to be a better scheme for the girl child. Along with this, if we talk about withdrawal on the account, then the child can partially withdraw the money in the SSY account after the age of 18 years and after 21 years. Partial withdrawal can be done after the seventh year of investment in the same PPF account.

- Advertisement -