Investing in your child’s future is more than a financial move, it is a commitment to the nation’s future and to the child’s future. Whenever it comes to offer financial security for a boy child in India, the post office savings schemes provide a myriad range of options. However, all these schemes provide assured returns along with safe investment for long term financial planning. Almost, there are 1.5 lakh post offices all-through the country, making schemes available for both rural and urban people.
Varying famous schemes offer unique benefits to meet financial goals, whether for higher education, marriage, or some other event. Selection of appropriate post office schemes enables every parent to meet their boy child’s future financial requirements. It offers tax benefits, safety, along with other benefits, so continue to read this blog to know more about post office schemes for boy children.
National savings certificate
Parents who are in search of long term investment, National Savings Certificate serves as an ideal option. This scheme is the most reputable government savings scheme, thus enabling parents to invest on behalf of their boy child, whose age is less than 18 years. This scheme provides a trustworthy platform to build funds with fixed interest rates. NSC certificate comes with fixed maturity of almost 5 years, that is easy to purchase from varying post offices all over India. It is permissible for parents to purchase the certificate in their child’s name, creating reliable and safe investment for future requirements.
Public provident fund
Public provident fund serves as one of the famous long term investment planning designed by the Indian Government. This boy child scheme enhances wealth and financial security with a combination of long term growth and tax advantages. This scheme came into force in 1968, and offers secure saving options to parents of boy children, whose age is less than 10 years.
Ponmagan Podhuvaippu Nidhi scheme
This government scheme is well-known as a “saving programme for boys”, and serves as a welfare initiative. It is specifically designed for boys in Tamil Nadu. This wonderful scheme offers benefits to children of weaker sections.
Kisan Vikas Patra
Kisan Vikas Patra, a famous scheme for boy children, promotes savings of boy children, especially in rural areas. The Indian Government launched this scheme that offers a secure method of investment along with ensured returns. Moreover, the scheme possesses fixed maturity time-period and is available across India.
Conclusion
In India, investing money in post offices schemes for a boy child is a safe method to lay a solid financial future for your child. All these schemes encourage you to save money from a very young age, making your future secure. It is highly advantageous for parents, as every scheme comes with tax benefits. Parents could confidently plan for their boy child’s education with help of these schemes, as it ensures a secure future. Ensure to choose wisely, as it is a matter of your child’s future.