What is the primary objective of the Sukanya Samriddhi Yojana (SSY)?

To provide tax benefits for parents To encourage long-term investments for a girl child's future To promote financial literacy among young girls To offer short-term savings options for girl child

Which government initiative is the Sukanya Samriddhi Yojana (SSY) a part of?

Pradhan Mantri Awas Yojana Beti Bachao, Beti Padhao Swachh Bharat Abhiyan Make in India

What is the maximum age of a girl child for opening an SSY account?

5 years 7 years 10 years 12 years

What is the lock-in period for investments in Sukanya Samriddhi Yojana?

5 years 10 years 15 years 21 years

Under which section of the Income Tax Act are investments in SSY accounts tax-deductible?

Section 80C Section 80D Section 80E Section 80G

What is the minimum investment amount required for a Sukanya Samriddhi Yojana account?

Rs. 100 Rs. 250 Rs. 500 Rs. 1000

What is the key difference between SSY and Children's Mutual Funds regarding account management?

SSY accounts are managed by the government, while Children's Mutual Funds are managed by private institutions. SSY accounts are transferred to the child at 18, while parents manage Children's Mutual Funds. SSY accounts require joint management by both parents, while Children's Mutual Funds can be managed by a single parent. There is no difference in account management between SSY and Children's Mutual Funds.

What is the primary advantage of Children's Mutual Funds over Sukanya Samriddhi Yojana?

Guaranteed returns Tax benefits Lower risk Potentially higher returns

Which investment option is considered more secure, Sukanya Samriddhi Yojana or Children's Mutual Funds?

Sukanya Samriddhi Yojana Children's Mutual Funds Both are equally secure Neither option is secure

What is a crucial factor to consider when choosing between Sukanya Samriddhi Yojana and Children's Mutual Funds?

The child's gender The investor's risk tolerance The reputation of the financial institution The current market interest rates