Last Update: February 16, 2023, 15:42 IST
The main objective of both these schemes is to provide financial assistance to the parents of the girl child.
The main goal of Sukanya Samriddhi Yojana is to give a strong financial base to a young woman to secure her future.
Women have always faced discrimination in the patriarchal society. This is changing, and there is a better understanding of the need to treat women equally and provide them with the same opportunities as men. Both Sukanya Samriddhi Yojana and LIC Kanyadan Policy were launched with similar objectives. The main objective of both these schemes is to provide financial assistance to the parents of the girl child.
If you are confused between the two plans and are unable to decide which one to choose for your daughter, News18 is here to help you. Parents need to remember that not every plan may suit their needs. Parents should choose the welfare program of the government on the basis of their economic benefit and future benefit. But before knowing which one is better, it is important to know the features of Sukanya Samriddhi Yojana and LIC Kanyadan policy.
Sukanya Samriddhi Yojana:
The main goal of this program is to give a young woman a strong financial foundation to secure her future. A girl child below the age of 10 years is eligible to open her Sukanya Samriddhi Yojana account.
Interest is charged at an annual percentage rate of 7.6%. The remaining amount is not covered under section 80C of the Income Tax Act. Hence no amount will be deducted from the account.
As low as Rs. 250 or more up to Rs. 1.5 lakh rupees can be deposited every month in SSY. The account can be opened in the name of the girl child instead of the parents.
Two Sukanya Samriddhi Yojana accounts can be opened per family.
lic kanyadan plan
LIC Kanyadan aims to secure the future of daughters with investments. LIC Kanyadan policy combines savings and protection.
Provides financial security with low premium payment LIC Kanyadan Bima. The policy offers lump sum payout as maturity benefit.
In case of accidental death Rs. 10 lakhs should be paid immediately to the next of kin or parents. On the other hand, in case of natural death, Rs 5 lakh is given immediately.
Both Indian Residents and NRIs can enroll their girl child.
The goal of both Sukanya Samriddhi Yojana and LIC Kanyadan Policy is the same. The idea is to safeguard the future of a girl child with the necessary finances. However, each wellness program has important fundamental differences that must be carefully addressed before choosing a strategy.
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