Sukanya Samriddhi Yojana (SSY)
The Indian government’s Sukanya Samriddhi Yojana is a small savings programme designed specifically with girls in mind. The plan aims to cover a girl child’s costs for schooling and marriage.
Children Gift Mutual Fund.
A particular kind of mutual fund scheme is the children’s gift funds. These grants are intended to support different life milestones for children, such as marriage and higher education. Children’s gift funds are categorised as balanced or hybrid mutual funds.
Post-Office Term Deposit (POTD)
The India Post offers an investing savings account programme called the Post-Office Term Deposit (POTD) Scheme (Department of Posts). This programme is designed for depositors who desire to make a one-time, lump-sum deposit for a fixed, five-year fixed deposit that will save them money on taxes.
Unit Linked Insurance Plan (ULIP)
The flexibility of premium payment is offered by ULIPs. You can transfer your funds back and forth between equity and debt funds. When you need money, you can take a portion out of a ULIP. Determining where to invest also depends on your risk tolerance.
National Savings Certificate (NSC)
A well-liked and secure small-savings product that combines tax benefits with guaranteed returns is the National Savings Certificate (NSC). The government supports this programme, which is accessible through post offices.