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Best Savings Scheme For A Boy Child In India 2024

Though parenthood is the most pleasurable experience, it comes with many hurdles and challenges. As parents, we often stress the fact that we will not be able to build a brilliant future for our dear ones. Isn’t it? Here comes a child insurance plan that is offered by the government of India in handy that helps you live a stress-free and peaceful life. In this article, we’ll list the best post office savings schemes for a boy child. Continue reading to find out more!

Best Saving Schemes For A Boy Child in 2024

Below are some of the best prime minister schemes for boy child available in India. You can compare them based on risk and long-term returns to choose the best for the little one. 

Post Office Scheme

Minimum Investment

Maximum Investment

Interest Rate

National Savings Certificate

Rs. 1,000

No. Max Limit


Ponmagan Podhuvaippu Nidhi Scheme

Rs. 500

Rs. 1,50,000


Post Office Monthly Income Scheme

Rs. 1,000

Rs. 4,50,000


Kisan Vikas Patra 

Rs. 100

No. Max Limit


Post Office Recurring Deposit

Rs. 100

No. Max Limit


Public Provident Fund

Rs. 500

Rs. 1,50,000


 List of 6 Best Schemes & their Features

1. National Savings Certificate:

This is a low-risk, fixed-income government programme that is accessible at post offices all over India. This post office savings programme for boys is packed with excellent features and advantages that can be tailored to your child's needs. At present, this plan has an annual interest rate of 6.8%. 

Key Features

  1. Get a high-fixed return on investment.
  2. Avail tax benefits under section 80C. 
  3. Start saving with a minimal investment of Rs. 1,000. 
  4. Zero TDS is deducted to ensure that the policyholder gets a full maturity amount. 

2. Ponmagan Podhuvaippu Nidhi Scheme

In the year 2015, the post office department of Tamil Nadu introduced the Ponmagan Podhuvaippu Nidhi Scheme, especially for the boy child. Under this scheme, a parent/ guardian can open a savings account for a boy child below 10 years of age. However, a minor boy after completing his 10th year can open an account with his own name. 

Key Features

  1. This scheme helps in creating wealth. 
  2. Pay the amount either in a lump sum or in small instalments. 
  3. Parents can take loans from the start of the 4th year. 
  4. Get tax benefits under section 80C. 

3. Post Office Monthly Income Scheme

It is a male-child saving scheme in which you can earn a fixed monthly income in the form of interest by investing a minimal amount. You can visit any post office nearby and get this scheme. However, it is mandatory to have a post office savings account. 

Key Features

  1. The plan provides fund protection until the plan matures.
  2. Safe, affordable and low-risk government scheme. 
  3. Give guaranteed returns. 

4. Kisan Vikas Patra 

Available at a budget-friendly price, Kisan Vikas Patra is the popular choice among low-income and middle-income families in India. Within a period of 124 months, this plan can double your savings. 

Key Features

  1. Zero-risk guaranteed returns.
  2. It aids in saving money for the future of your child.
  3. Avail low-interest loan facilities. 
  4. A single child can be the owner of numerous accounts. 

5. Post Office Recurring Deposit

It is a 5-year savings scheme available for a boy child in India, i.e. parents can contribute a set amount to the account each month for five years. This recurring deposit plan offers a higher rate of return than a typical bank savings account. 

Key Features

  1. Limited or no restrictions under this scheme. 
  2. You can transfer your funds from RD to savings accounts. 
  3. Aids in collecting a pool of funds for the future of your boy child. 
  4. You can extend your policy after maturity. 

6. Public Provident Fund

The purpose of this savings plan is to save money on taxes. It is a tax-saving plan which was founded in 1968. This plan allows investors to make investments for up to 15 years. The amount invested under this scheme is tax deductible. Boys can only open an account under this system under the supervision of a parent or legal guardian.

Key Features

  1. The lock-in period of the policy is 15 years. 
  2. You can transfer funds under this policy. 
  3. Long-term investments at a better rate of interest. 
  4. Section 80C allows for a maximum of Rs.1.5 lakh tax benefit under this policy. 

Factors To Consider While Buying a Child Savings Plan 

  • Coverage: 

Your age, yearly salary, and lifestyle choices are all major factors that determine your coverage amount. Therefore, you must examine several child insurance policies based on the available coverage amount and choose a kid plan that offers the most coverage for the lowest possible premium cost to secure your child's financial future.

  • Policy Term:

Choosing a long-term policy duration will maximize the benefits of a child plan. Additionally, you can make sure that your child gets full-fledged financial coverage in the future. 

  • Maturity Benefits:

When a child insurance plan matures, it promises to pay out a considerable sum of money that has been collected throughout the policy. It is recommended that you choose a child plan that provides the greatest maturity benefits for the particular premium paid.


Considering the inflation rate in India, it has become imperative to protect your child’s future with the best child insurance plan. Besides the private insurance sector, the government has also taken the initiative to help parents financially. Some of the post office savings schemes for boy children in India are mentioned above. You can compare and choose the best one for your child.

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