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Tuesday, March 10, 2020

Sukanya Samriddhi Yojana (SSY)

Comparison between Child FD and Sukanya Samriddhi Yojana (SSY)

Sukanya Samriddhi Scheme is a long-term investment scheme while a fixed deposit can be used as a short-term as well as long-term investment scheme. FD with short tenor can help you safeguard your investment against inflation whereas FD with long tenor can help you accumulate corpus for future needs.
Fixed Deposits can be applied online. No online mode of operation/account opening is possible for Sukanya Samriddhi Account.
An individual can have more than one FD account in their name but in the case of Sukanya Yojana only one account can be opened for a girl child, with a cap of two accounts per family.
Fixed deposits require Rs. 100 of deposit amount per month to start with whereas Sukanya Yojana requires a minimum of Rs. 250.Important Link :

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