Prime Minister Narendra Modi on 22nd January 2015 launched a small deposit scheme 'Sukanya Samridhi Scheme' for the girl child, as part of the "Beti Bachao Beti Padhao" campaign. This scheme is specially designed for girls higher education or marriage needs
Here below we present all parents of girl child with details and comparison of Sukanya Samridhi Scheme with PPF, Bank RD and SIP in Mutual Funds for parents to make a better choice by picking right product and create wealth to secure future of your girl child .
Thanks and Regards
Manish K Pandey
Fern Wealth Advisors Private Limited
Navi Mumbai
Here below we present all parents of girl child with details and comparison of Sukanya Samridhi Scheme with PPF, Bank RD and SIP in Mutual Funds for parents to make a better choice by picking right product and create wealth to secure future of your girl child .
|
CRITERIA
|
SUKANYA SAMRIDHI ACCOUNT
|
PUBLIC PROVIDENT FUND (P.P.F)
|
RECURRING DEPOSIT (R.D) BY BANKS
|
MUTUAL FUNDS – S.I.P (SYSTEMATIC INVESTMENT PLANS)
|
|
ON WHOSE NAME ACCOUNT CAN BE OPENED
|
ONLY FOR GIRL CHILD
|
ANYONE
|
ANYONE
|
ANYONE
|
|
AGE ELIGIBILITY
|
0-10 YEARS
|
ANY AGE
|
ANY AGE
|
ANY AGE
|
|
WHERE CAN YOU OPEN ACCOUNT
|
POST OFFICE / PUBLIC SECTOR BANKS
|
POST OFFICE / BANKS
|
BANKS
|
MUTUAL FUND COMPANIES
|
|
FREQUENCY OF DEPOSIT ALLOWED
|
UNLIMITED
|
12 IN A YEAR
|
ONE A MONTH
|
DAILY, WEEKLY, FORTNIGHTLY, MONTHLY AND QUARTERLY
|
|
HOW MANY ACCOUNTS CAN BE OPENED FOR ONE PERSON
|
SINGLE ACCOUNT PER CHILD
|
SINGLE ACCOUNT ALLOWED
|
UNLIMITED
|
UNLIMITED
|
|
INTEREST RATE
|
9.1% (2015)
|
8.70%
|
7-8% (DEPENDS ON TENURE)
|
(ESTIMATED APPROX. RANGE)
·
9-10% IN DEBT FUNDS
·
10-12% IN BALANCED FUNDS
·
12-15% + IN EQUITY FUNDS
|
|
MINIMUM AND MAXIMUM CONTRIBUTION
|
RS 1000 PER YEAR TO RS 150000 PER YEAR
|
RS 500 PER YEAR TO RS 150000 PER YEAR
|
DEPENDS ON LIMITS DECIDED BY RESPECTIVE BANKS
|
RS 500 AND UPWARDS NO LIMIT
|
|
TAX BENEFIT ON CONTRIBUTION AMOUNT
|
EXEMT UNDER 80C
|
EXEMPT UNDER 80C
|
NIL
|
NIL
|
|
TAX BENEFIT IN INTEREST EARNED
|
TAXABLE
|
EXEMPT FROM TAX
|
TAXABLE
|
TREATED AS CAPITAL GAINS
|
|
TAX BENEFIT ON MATURITY AMOUNT
|
EXEMPT
|
EXEMPT
|
TAXABLE
|
CAPITAL GAIN AND INDEXATION BENEFITS
|
|
PARTIAL WITHDRAWAL ALLOWED
|
YES – AFTER 18 YEARS
|
YES- AFTER 7 YEARS
|
ANYTIME
|
ANYTIME
|
|
MATURITY TENURE
|
21 YEARS
|
15 YEARS
|
AS PER TENURE SET. CAN BE BROKEN ANYTIME
|
ANYTIME IN NEED
|
|
ONLINE PAYMENT ALLOWED
|
NO
|
YES
|
YES
|
YES
|
|
LOAN FACILITY
|
NO
|
YES- LIMITED
|
YES
|
LOAN AGAINST SECURITIES
|
|
LIQUIDITY
|
LOW
|
MODERATE
|
EXTREMELY HIGH
|
EXTREMELY HIGH
|
www.fernwealth.com
# +91-9830040603
fernwealthadvisors@gmail.com
No comments:
Post a Comment