Of the several government-led initiatives, Sukanya Samriddhi Yojana is a noteworthy scheme introduced as part of the ‘Beti Bachao Beti Padhao’ campaign. It was launched in 2015 to encourage parents to save for their girl children. As cost of education is rising, this small savings scheme shall financially help girls in their both education and marriage.
On the contrary, fixed deposits are one of the safest investment schemes in India. You can earn higher and assured returns with FDs, with no market influence. It is vital to know FD and Sukanya Yojana details to invest in an appropriate option.
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While FDs are available for anyone who meets the set eligibility criteria, irrespective of gender and age, SSY is for girl children. One has to open an account under SSY before the girl turns 10, but a fixed deposit can be opened any time.
Although the government continues to revise SSY interest rate, the current rate is lower than FD interest rate. Reputed NBFC like Bajaj Finance is one of the best options to open a fixed deposit with. Attractive benefits such as flexible tenors, multiple accounts through a single cheque payment, minimum deposit amount, emergency financing, etc. make FDs a better choice to invest for a girl child.
