Which would be the better investment, Rs 15,000 PM to SIP or Sukanya Samriddhi Yojana?

I quite like Sukanya Samriddhi Yojana as a product. It promotes long term investing, is tax free and has the highest interest rate among all smalls savings instruments. I am personally invested in it and contribute each year.

However SIPs in equity mutual funds are also great at building wealth and offer some of the best returns, and higher than SSY.

The answer depends on the following:

• Your liquidity needs, if you want to cash our early then SSY has a lockin. I would not recommend cashing out early.
• Your asset allocation and if you need debt to be a part of the portfolio. SSY can be considered as a debt asset.
• The above allocation depends on your risk profile and appetite for risk

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