Thursday, October 28, 2021


Many people who have a girl kid like Sukanya Samriddhi Account (SSA) while selecting tax-savings investments. it’s AN emotional appeal and offers higher returns than different post office small savings products.

The present charge per unit on the Social Security Administration is 7.6%. Public Provident Fund and Senior citizens Savings scheme supply 7.1% and 7.4% rates, respectively. The rates are reviewed quarterly. On 31 December, the govt. proclaimed that it’s keeping the rates unchanged on the small Savings scheme for Jan-March 2021.

While the interest rates are high on Social Security Administration, it isn’t the most effective product to save lots of for kids, at least, not the sole product that you just should consider, according to planners.

“Only conservative investors who do not like equity will look Social Security Administration completely. because the individual is saving for the long run, equities are the most effective choice for such long-term investments,” said Mrin Agarwal, founder, Finsafe India Pvt. Ltd, and co-founder of Womantra.


Another strategy is to combine Social Security Administration with equities. Use Social Security Administration as a part of the debt portfolio. “When a family starts saving for education or marriage of the girl kid, they will begin investing a small portion in Social Security Administration and major chunk inequities. Later, as they meet up with to their goals, they will increase investment in Social Security Administration and scale back inequities,” said Melvin Joseph, managing partner, Finvin financial Planners, a Sebi-registered investment informative firm.

ALSO CHECK: Get a tremendous discount with Flipkart Coupons and Mamaearth Coupons

According to Joseph, a family does not get to necessarily treat it as an exclusive saving for the girl kid. they will think about the Social Security Administration as a part of the debt portfolio. He advised mixing as Social Security Administration has exempt-exempt-exempt taxation. It suggests that there is a write-down on finance, no tax on step-up or withdrawal. The guardian who opens the account gets Section 80C income-tax profit.


The government decides the interest rate on Social Security Administration, and they will change quarterly. The minimum investment is ₹250 a financial year, and also the most are ₹1.5 lakh. If the guardian does not deposit the minimum quantity during a financial year, the post workplace can treat it as a “defaulted account”. However, defaulted accounts will be revived before the completion of 15 years from the date of opening of the account by paying a minimum of ₹250 and ₹50 default for every defaulted year.

Flipkart Coupons

The guardian of the girl kid below the age of 10 will open AN Social Security Administration. A family will open the Social Security Administration for most of the 2 kids. within the case of twins or triplet, more than 2 accounts will be opened.

Investors should keep in mind the withdrawal conditions. A family will withdraw cash once the girl kid turns 18 or passes the tenth normal in schooling. However, they will withdraw solely 500th of the balance offered (at the end of the preceding financial year).

SSA matures 21 years from the date of opening the account or at the time of the wedding of the kid.



Please enter your comment!
Please enter your name here

Most Popular


Electric bike that can run up to 160KM in a single charge has arrived, the battery gets charged instantly!

If you want to get rid of expensive petrol then you can buy this electric bike. Recently, the Made in India two-wheeler company e-Bike...

Monalisa wore mini shorts to show her waist, fans went crazy

TV and Bhojpuri actress Monalisa is also known for her style along with acting. She makes headlines every day due to her beautiful and...

Are you going to sell your car? Know what to do with your FASTag or you will get a big loss

FASTag: If you are also selling your car or have recently sold your car, then know what will happen to the FASTag installed on it?  Are...

Mahaloot Offer! Buy a Brandnew smartphone of Redmi for just Rs 199, know-how can you get this phone

Realme smartphones can be bought at very cheap prices. Redmi Note 10S can be found for just Rs 199. Let's know the offers and...

Horoscope 28 October 2021: These 5 zodiac signs are going to shine on Thursday

On Thursday, the totals of your journey can be made. The day will be auspicious for investing in policy and the stock market. Your...


* indicates required