The launch of Sukanya Samriddhi Yojana (SSY) by
the government for the girl child has sparked considerable interest given its
tax benefit & interest rate higher than Public Provident Fund.
The SSY offers 0.75% higher than the 10-year
government bond as against 0.25% by the PPF.
For
2014-15, the interest rate for PPF is 8.7% while the SSY offers 9.1%. But,
wealth planners believe subscribers should put money in this product along with
an investment in equity products.
This is because interest rates could fall in the
future. Given that the investors are investing for a period estors are
investing for a period of 10 years or more, a combination of equity mutual
funds & SSY will generate better returns.
Ms. Vishal Dhawan, Chief Financial Planner,Plan
Ahead Wealth Advisors said, “Depending
on their risk profile, investors could use SSY along with a combination of
equity mutual funds child funds to meet long-term asset allocation goals for
their girl child“
Src: ET, Prashant Mahesh
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