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EP-157 #ASKMONEYPURSE
Takeaway
Sukanya Samriddhi is the best lock-in savings option for a girl child; mutual funds give higher returns but lose the lock-in safeguard.
Summary
- For a deceased classmate's 4-year-old daughter, classmates pooled Rs 40,000 - recommends Sukanya Samriddhi Yojana for locked savings in girl's name.
- SSY requires only Rs 250/year to keep active; daughter accesses funds at majority - ideal lock-in if family wants withdrawal prevention.
- If higher returns wanted, mutual funds (flexi-cap or mid/small cap) in girl's name work but allow premature withdrawal - more risk.
- Q&A covers other viewer financial questions on SIPs and tax planning.
sukanya-samriddhichild-planningmutual-funds
Original description
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