Finance Ideas: If you are planning to invest, then this news can be useful for you. Actually, both Sukanya Samriddhi Yojana (SSY) and Public Provident Fund (PPF) are popular schemes…
If you are investing for the future of your children and family, or are planning to do so. So you should be aware of the different savings schemes and the benefits that you get from that scheme. Today we are talking about the government’s two favorite savings schemes PPF and Sukanya Samriddhi Yojana, by investing in them you can get good returns.
Investment in Sukanya Samriddhi Yojana can be done only in the name of Ladli
However, along with getting good returns from both Sukanya Samriddhi Yojana (SSY) and Public Provident Fund (PPF), your investment remains completely safe. But many times people have the same question, which of these two plans is the best. While in PPF you can start investing in any name, but in Sukanya Samriddhi Yojana (SSY) you can invest only in the name of your beloved. Let us know about both the scheme…
PPF or Sukanya Samriddhi Yojana
At present, the interest rate on PPF scheme is 7.1 percent. But on the other hand, 7.6 percent interest is available on Sukanya Samriddhi Yojana (SSY). So in such a situation, you will definitely feel that Sukanya Samriddhi Yojana (SSY) is the best. But its not like that at all. Actually you should invest in both the scheme. Investing in PPF must be done even after getting low interest.
What is the benefit of investing in PPF?
However, PPF has a lock-in period of the 15 years. And you can extend it further for 5 years after 15 years as per your wish and calculation. And its a safe and secure investment. The most important thing in this is that by investing in both these schemes, you get exemption on investment up to 1.5 lakh under section 80C of income tax.
Benefits of investing in Sukanya Samriddhi Yojana?
If you want to invest in Sukanya Samriddhi Yojana (SSY), then you can also deposit a minimum of Rs 250 and a maximum of Rs 1.50 lakh. Although this scheme has been brought especially for girls. This is the reason why more interest is given in this than PPF scheme. In this scheme, when your daughter is 15 years old, investment is made.
How much benefit in which?
Now let’s talk about benefits, if you deposit Rs 1.50 lakh every year in PPF account, then at the current interest rate (7.1 %), you will get Rs 40.68 lakh on maturity of 15 years, but if you invest in Sukanya Samriddhi Yojana ( SSY) invests Rs 1.50 lakh every year. So you will get 63 lakh 65 thousand rupees on maturity of 21 years. So in such a situation, if you invest in both these schemes, then you will get more benefit.
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