Invest in Credit Risk Mutual Fund or not?
What are Credit Risk Funds? Why investors stay away from this investment? How do these funds work? How much is the risk in this investment?
If you’re looking for a good tax-saving scheme and you are also parent to a girl child — Sukanya Samriddhi Yojana (SSY) is an intelligent pick.
The account can be opened with Indian Postal Payments Bank (IPPB) by visiting the nearest India Post branch. The account can be managed online through the IPPB mobile application, which is available on both Android as well as iOS operating systems.
A minimum investment of Rs 250 and maximum of Rs 1.5 lakh in a financial year is allowed in this scheme. This account matures either at the time of girl’s wedding or after 21 years since the day of opening the account. At present, an interest rate of 7.6% is designated for the scheme.
Here’s how you can transfer money to your SSY account online:
- Add money to your IPPB account
- Click on DOP Products, select Sukankya Samridhi Account
- Enter SSY account number and DOP Customer ID
- Select instalment duration and amount
- After successful completion, IPPB will notify you for successful payment transfer
Apart from IPPB app, the government also introduced DakPay digital payment application a few months back. This can also be used by IPPB account holders to transfer and receive money. Dakpay is said to offer interoperable banking and financial services to its customers with any bank across India.