Can I invest in both PPF and Sukanya Samriddhi Account?

✅Can I open both PPF and Sukanya Samriddhi Accounts? Yes, you can open both PPF and Sukanya Samriddhi Accounts. While an SSY account can be opened for girl child aged 10 years or below, you can open a PPF account if you are an Indian resident above the age of 18 years.

Can I deposit more than 1.5 lakh in PPF account in a year?

While the maximum investment limit is Rs 1.5 lakh in a financial year, a minimum annual investment of Rs 500 is necessary to keep a PPF account active. An account holder may deposit money maximum 12 times in his/her PPF account in a year.

Can we deposit more than 150000 in Sukanya samriddhi?

A Sukanya Samriddhi Account can be opened any time after the birth of a girl child till she turns 10, where you will have to deposit a minimum of Rs 250. In subsequent years, a minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited during the ongoing financial year.

Can we have 2 Sukanya Samriddhi Account?

The Guardian can open only two sukanya samriddhi account under the Rules with any bank or post office. However, Guardian can open third sukanya samriddhi account under the Rules if the second birth is of twin girls or first birth is of triplets.

Can a girl child have both PPF and ssy?

Getty Images You can open both Sukanya Samriddhi Account and PPF account for your minor child. I am 33. I have a Sukanya Samriddhi Account in the name of my 3-year-old daughter. I am investing Rs 1.5 lakh in this account per annum.

Which is better Sukanya or PPF?

Choosing between Sukanya Samriddhi Account and Public Provident Fund is a settlement between flexibility and higher returns. PPF offers more flexibility and SSA gives higher returns. If you have a surplus amount which you want to invest, you can also choose to distribute their investments in both the schemes.

How many years we can deposit in PPF account?

15 years
The account tenure is 15 years and the lock-in period for the account is 15 years. You can make a deposit to a PPF account ranging from Rs.500 up to Rs.1.5 lakh per financial year.

How can I get maximum interest on Sukanya samriddhi Yojana?

“Interest calculation is done every month on the lowest balances in account between 10th and last day of the month. An investment done before 10th of every month is entitled to interest for the entire month. A few hundreds earned extra every month turn into thousands on compounding basis,” said Rohira.

How many times we can deposit money in Sukanya Yojana in a month?

Subsequent deposits in multiples of ₹ 100 and there are no limits on the number of deposit a member can do in a month of a financial year. Investments made for Sukanya Samriddhi Yojana account and maturity amount are fully exempted from tax under section 80C of the Income Tax Act.

Can I invest 1.5 lakh each in PPF and ssy?

SSY requires minimum deposit of Rs 250 to open an account. While in PPF, it is Rs 500. However, the maximum limit for both schemes is same i.e. Rs 1.5 lakh. A maximum of two accounts can be opened in case of SSY, one account for each girl child.

Is Sukanya samriddhi Yojana better than PPF?