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Which Scheme is Best for a Boy Child?

Published On Jul 16, 2021 5:00 PM By InsuranceDekho

An insurance and investment plan for children makes planning for their future needs easier. A child's well-being is guaranteed in the event of the unfortunate passing of a parent through insurance. Investing in your child's future is a great way to secure their future. A child plan's best feature is that payouts are flexible and can be utilized throughout the education journey.

There are an array of investment options that are specifically suited to the girl child, but there are no such options when it comes to building a legacy for the future of the boy child. In order to avoid major hurdles in the future as a parent, one should begin investing in their children at an early age. Either for higher education or for marriage, having sufficient funds is always a good idea. Before purchasing any insurance policy, it is important to consider long-term returns and risk factors. 

Additionally, post office savings plans for boys are available in India. This article discusses various schemes that parents of boy children can consider for their child. 

Few Post Office Saving Schemes for Boy Child

Some of the Saving Schemes which you as a parent can avail for your boy child are as follows: 

  • Ponmagan Podhuvaippu Nidhi Scheme

Boy children have fewer options for investment. It belongs only to Tamil Nadu and is called Ponmagan Podhuvaippu Nidhi Scheme. Through this scheme, parents may open a post office account in their child's name before he turns 10 years old. Parents are entitled to a loan after the fourth year of opening their account. A maximum of 12 deposits per year can be made to this account by parents. Furthermore, tax deductions can also be claimed under this scheme. Aside from that, market conditions and government policies can change the interest rates every year. 

  • Kisan Vikas Patra (KVP)

The Kisan Vikas Patra scheme first came into being in 1988, and in 2014, it was reintroduced due to high demand. Lower- and middle-class families have found Kisan Vikas Patra to be an important investment scheme. The government runs this program that allows one to put their money in annual lump-sum investments. A predetermined rate of interest is paid by the government as well.  Under this scheme, the minimum investment amount is Rs. 1000, and the child must be under the age of 18. 

  • Post Office Monthly Income Scheme (POMIS)
  • A safe and secure way to save money is available through this option. A typical government-managed plan involves both investment and returns management, as well as a guaranteed payment to the investor. This account can be opened for children between the age of 10 to 18 years. Children above age of 18 cannot open this account. Return rates are relatively high in comparison with other plans. If the child opens a joint MIS Account with someone over the age of 18, he can take part in the Post Office Monthly Income Scheme. 
  • Public Provident Fund

Tax savings are the goal of this savings plan. First established in 1968, the Public Provident Fund is a tax-saving plan. This scheme allows investors to invest for up to 15 years. The amount invested under this scheme is eligible for tax benefits. Boys can only have an account in this scheme opened in the name of a parent or legal guardian. 

National Savings Certificate (NSC) 

The National Savings Certificate (NSC), also called the NSC, is a fixed income instrument. It carries a 5-year maturity period and an interest rate of 7.6%. Indian parents should keep in mind that the interest rate is revised annually. Parents can use their NSCs as collateral when they need emergency loans from banks. 


In India, there are several Post Office saving schemes available to boy children. Depending on your needs and capabilities, you and your child can join any of the savings programs offered. Your boy child will benefit from these plans if you want to save money and provide for him in the future. Investing funds in postal saving schemes for a boy requires in-depth understanding from different sources. Moreover, parents can use them as educational aids and other purposes when their children grow up.
Also Read: 

Why Should I Buy Child Insurance Plans Online At Insurancedekho?

How Child Plan Helps You Plan For Your Child’s Future?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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