Answer Book question
A government scheme for a girl child under ten, with a high government-set interest rate, tax benefits, and a lock-in until she is 18 (partial) or 21 (full). For the debt portion of a daughter's education or marriage fund, it is among the best safe options available. Pair it with equity for growth.
A government scheme for a girl child under ten, with a high government-set interest rate, tax benefits, and a lock-in until she is 18 (partial) or 21 (full). For the debt portion of a daughter's education or marriage fund, it is among the best safe options available. Pair it with equity for growth.
Parents in Adoor open an SSY account for their daughter at birth and contribute monthly. By 18, the guaranteed portion of her education fund is substantial and tax-free; an index SIP alongside provides the growth portion.
Sovereign-backed, tax-advantaged, long lock-in. Interest rate reviewed quarterly. Annual contribution caps apply.
Daughter's age under 10 at opening Annual cap Current rate Lock-in and partial withdrawal rules Opening at post office or bank
Putting everything in SSY and nothing in equity. the lock-in is long and the return, while good for debt, is below long-run equity.
Widely used in Kerala; post offices handle it routinely.
Monthly contribution for 15 years at the current rate → a guaranteed, tax-free corpus at 21.
No daughter under 10; or the family needs liquidity.
Open at the post office Set a monthly amount Add an equity SIP alongside
How do I save for my child's education without losing to inflation?
Women & girls · Family support
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