If you’re considering a long-term investment, comparing the interest rates of the Public Provident Fund (PPF) and Sukanya Samriddhi Yojana (SSY) can help you decide. Currently, PPF offers an interest rate of 7.1% per annum, while SSY provides a higher rate of 8.2% per annum. Investing in Sukanya Samriddhi Yojana can yield more returns, making it a potentially more profitable choice for your savings.

The government offers many schemes for investment, allowing you to build a substantial fund with small contributions. Two of these popular schemes are the Public Provident Fund (PPF) and the Sukanya Samriddhi Yojana (SSY). By investing in either scheme, you can grow a significant fund over time. To apply, simply visit your nearest post office.

Throughout this article, we will tell you that there is no risk in these two scheme. You get fixed returns after a certain period. The interest received in both schemes is decided by the central government. In Public Provident Fund (PPF) you get interest at the rate of 7.1 percent per annum. Whereas in Sukanya Samriddhi Yojana (SSY) you get interested at the rate of 8.2 per cent per annum. In such a situation, it can be seen that by investing money in Sukanya Samriddhi Yojana, you can earn more profit.

Who can apply?

By investing in Sukanya Samriddhi Yojana, you can get higher returns than the Public Provident Fund, but keep in mind that only daughters aged 10 years or less can apply in Sukanya Samriddhi Yojana. This scheme matures after the daughter turns 21 years old. Any Indian citizen can invest in the Public Provident Fund.

How much return will you get in SSY and PPF?

If you invest a total of Rs 1.50 lakh in both schemes in 1 year, then you will invest a total of Rs 22,50,000 in 15 years. In SSY, after 15 years you will get Rs 69,80,100 at an interest rate of 8.2 percent, out of which more than Rs 47 lakh will be only interest. Whereas in PPF, after 15 years you will get Rs 40,68,209, out of which more than Rs 18 lakh will be only interest.

Here’s a quick guide on applying online for Sukanya Samriddhi Yojana (SSY) and Public Provident Fund (PPF):

Sukanya Samriddhi Yojana (SSY) Online Application

Eligibility: For girl children under 10 years.
Log in: Access your bank’s internet banking or mobile app.
Locate SSY Option: Under “Government Schemes” or “Deposits,” select SSY.
Fill Details: Enter details of the girl child, parent/guardian, and deposit amount.
Upload Documents: Birth certificate of the child, ID, and address proof.
Submit & Confirmation: After submission, you’ll receive a confirmation of account opening.

Public Provident Fund (PPF) Online Application

Eligibility: Open to Indian residents.
Log in: Sign in to your bank’s internet banking or mobile app.
Navigate to PPF: Look for the PPF section under “Accounts” or “Investments.”
Complete Details: Fill out the required personal and financial details.
Initial Deposit: Make the first deposit (minimum ₹500) online.
Submit & Confirmation: You’ll receive confirmation once the account is set up.
Both SSY and PPF accounts can be managed online for easy transactions and deposits over time.

Disclaimer: For any financial investment anywhere on your own responsibility, Times Bull will not be responsible for it.

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