Empowering women empowers an entire country. When we educate our daughters, they educate the new generations, and the trail persists. Similarly, independent daughters raise independent children, and one of the best ways to help them attain independence is by making them financially liberated.
Financial independence helps with better decision-making, boosting confidence, and equality. Here are some investment schemes introduced by the Indian government for women to gain financial independence.
Sukanya Samriddhi Yojana is a special scheme for a girl child’s welfare. It offers an interest of 8.2 per cent per annum, including tax benefits, apart from being a long-term savings plan. This scheme can be opted by parents and guardians for girls below 10 years of age to secure money for their higher studies, weddings, and other goals.
Post Office Mahila Samman Savings Scheme, also known as Mahila Samman Bachat Patra, is a small saving scheme for women to save finances for their near-future needs. Launched in April 2023, it can be availed at post offices, PSU banks, and certain private banks for up to March 31, 2025, offering an annual interest of 7.5 per cent, compounded quarterly.
Mukhyamantri Mahila Samman Yojana is an investment scheme for women above 18 years old wherein they will be granted Rs 1000 every month for financial assistance. This scheme can be only availed by women living in Delhi NCR and having a valid ID card to prove it.
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SBI Life Smart Women Advantage Plan is an investment and insurance scheme designed for women to assist them in covering expenses related to savings (Money Saving Tips) and critical illness. Under the scheme, women can also get assistance during complicated pregnancy, congenital abnormalities (APC & CA), and birthing irregularities. The scheme comes in three folds - Gold Plan and Platinum Plan.
To enhance skill sets and economic freedom in women, the government introduced the Lakhpati Didi Yojana majorly for rural women. Under the scheme, women are being technical facets including making LED bulbs, repairing electronic devices, and plumbing. Women with a family income of over Rs 1 lakh can enjoy the scheme.
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