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Sukanya Samriddhi Yojana ( SSY )

  Important Point Convenience  - move SSY account from one bank to another or to post office Higher Returns than most of small saving schemes  2021 : 7.6% ( Home Loan : 7.2%, PPF : 7.1% Eligibility  Female child <= 10 y after 18y child becomes account holder Withdraw upto 50% of amount for Education marriage Investment period = 15y , maturity period is 21y Restrictions Only 2 accounts per family Min deposit  250/- per year failing Rs50/- penalty  Limits Upper = 1.5L / Year Lower = 250/- / year Interest  End of every Financial year Tax  80C IT 1961 Premature Closure after 5y - prematurely can be closed  Serious illness or death of guardian PO saving rate from date of death to date of final payment
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NPS ( National Pension Scheme )

  National Pension Scheme Eligibility All employees of  Public Sector Private Sector Unorganized Sector Exception of Armed forces Min - Max Contribution 6000/- per year or 500 monthly Age  18-60y  on maturity can be extended to 70y Important Points Contributions are generally invested in market linked instruments such as debt and equity Returns Return are based on performance of these instruments. Expected to return 9-12% depending of Type of NPS account Tax Exemption NPS scheme covered on 80C - 1.5Lakh if employee is contributing then 10% of Basic is totally tax exempted. *** withdrawal After 3y - 25% of total contribution Premature withdrawal in case of emergency Security and Reliability Regulated by Pension fund regulatory and development authority of India ( PFRDA ) Oversight helps in keeping things transparent and secure Types Type 1 Type 2
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