Investment in government-backed savings schemes is one of the safest and most effective ways to secure your future. Among the many options available, the Sukanya Samriddhi Yojana (SSY) and the Public Provident Fund (PPF) stand out as two of the most preferred choices. While both schemes offer long-term savings benefits, they cater to different financial goals and target groups. This article provides an in-depth analysis of SSY vs PPF, highlighting the key differences in terms of eligibility, deposit limits, interest rates, tax benefits, withdrawal options, and other essential factors.
The government sponsors both the Public Provident Fund (PPF) and Sukanya Samriddhi Yojana Account (SSY) as savings schemes that offer tax benefits under Section 80C of the Income Tax Act. However, SSY specifically supports the welfare of girl children, while PPF serves as a general investment option for all Indian citizens.
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Both SSY and PPF are excellent long-term savings schemes that offer security and tax benefits. While Sukanya Samriddhi Yojana is a great choice for securing a girl child’s future, PPF is more flexible and suitable for anyone looking for steady returns with tax benefits. Choosing between SSY vs PPF depends on your financial goals. If you aim to build wealth for your daughter’s education and marriage, SSY is ideal; if you seek a retirement corpus or general savings, PPF returns make it a great option.
Yes, you can invest in both SSY and PPF to maximize your tax benefits and secure financial stability.
Partial withdrawal is allowed for education, but the account remains active until 21.
Yes, both SSY and PPF offer tax-free interest earnings.
Yes, PPF can be extended in blocks of 5 years after maturity.
SSY requires Rs. 250 per year, while PPF requires Rs. 500 per year.
No, NRIs are not eligible to open new SSY or PPF accounts.
No, loans are not available against SSY.
PPF is more flexible and available for all individuals, while SSY is specifically for a girl child’s future. The choice depends on your financial goals.
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