SIP vs SSY: Start SIP in daughter's name or invest money in Sukanya Samriddhi Yojana? Know which may give better returns
SIP vs SSY: After a girl child is born, an investment in a guaranteed return or market-linked scheme may be the best decision. It may help you grow your money so that you can use it for your girl's education or marriage. For the same purpose, Post Office runs the Sukanya Samriddhi Yojana (SSY), which offers an interest rate of 8.2 per cent calculated and compounded yearly. On the other hand, many new-age investors opt for systematic investment plan (SIP) in mutual funds. Sometimes, investors get confused about whether they should invest in a fixed return scheme such as SSY or a market-linked investment option like SIP. Through calculations, know which of the two options may give you better returns.
Sukanya Samriddhi Yojana offers the joint highest interest rate at 8.2 per cent annually among all Post Office schemes. Photo: File/Representational