Although small savings have somewhat lost their sheen, there is one scheme that is still worth considering—the Sukanya Samriddhi Yojana (SSY). The SSY has undergone some changes, including a reduction in interest at 8.6 per cent compared to the 9.1 per cent available a year ago. Yet, it is attractive and worth considering if you have a girl child and are a conservative investor. On its part, the Finance Ministry has introduced few changes, including the introduction of market-linked interest rates under this scheme, which means interest rates could change every quarter.
What’s changed?