Government Schemes For Under 18 Children: The Indian government runs many schemes for the citizens of the country. The government brings different types of schemes for different people. Some of these schemes are for the elderly. Some are for women. So there are some such schemes of the government.
These are for children below 18 years of age. Many people benefit from these schemes. If there are children below 18 years of age in your house, then these schemes can prove to be very useful for them. Let us tell you. What are these schemes and how can the benefits of these schemes be availed.
NPS Vatsalya Plan
This year, the Government of India launched a separate scheme for children which will strengthen their future. The name of this scheme is NPS Vatsalya Yojana. In which any parent or guardian can open an account for children below 18 years of age. A minimum investment of Rs 1000 has to be made in the scheme. There is no limit on maximum investment. When the child becomes older than 18 years in the scheme, then the NPS Vatsalya Yojana account will automatically be converted into a matured NPS account.
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PPF
Investment can also be made in PPF account for children below 18 years of age. In this too, good savings can be made for their future. The interest received in this account is also tax free. Any parent can open an account in PPF for their children. You can invest a minimum of Rs 500 in it and a maximum of Rs 1.50 lakh.
Sukanya Samriddhi Scheme
The Government of India has started a new scheme under the Beti Bachao Beti Padhao scheme. Through this scheme, parents can deposit money for the future of their daughters for their education and marriage. You can open an account in any post office or bank till your daughter is 10 years old. Under the scheme, you can deposit a minimum amount of Rs 1000. And you can deposit a maximum of Rs 1.50 lakh in it.
You can also invest in equity mutual funds
Equity mutual funds can prove to be a great option for investment plans for children. You get good returns on investment for children in this. You get good returns of 12 to 15 percent annually on investment in equity funds.
National Savings Certificate
National Savings Certificate is an excellent investment scheme of the Government of India. In this, you can deposit a good fund for the future of your child. You can also save tax through this scheme. This scheme has a lock-in period of up to five years.
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