The interest rates for popular PPF and savings deposits too have been retained at 7.1 per cent and 4 per cent, respectively
While one may be drawn to the higher interest and tax benefits, SSY might not always be the right investment
Under SSY, you can open an account for your daughter till she turns 10. Investments continue for 15 years, and mature after 21 years.
Both SSY and PPF are debt instruments. They offer relatively low but safe and secure returns.
Interest rates have been falling steadily over the past few years. Among the few guaranteed-return schemes that stand out in these times, Sukanya Samr
The Rule of 72 gives an accurate estimation of the doubling time for investment specifically with lower interest rates rather than higher ones
At present, an interest rate of 7.6% is designated for Sukanya Samriddhi Yojana account