Vatsalya Yojana: What is NPS Vatsalya Yojana? Know how this scheme will secure the future of your children

On September 18, Union Finance Minister Nirmala Sitharaman has officially announced the launch of NPS Vatsalya Yojana. During this, she also launched an online platform for investing in NPS Vatsalya Yojana. NPS Vatsalya Yojana has been started especially for children. Investment is made by opening an account in the name of children in NPS Vatsalya Yojana.

If you want to secure the future of your children, then NPS Vatsalya Yojana can prove to be a good option for you. When the children's account opened in NPS Vatsalya Yojana matures, it is converted into an NPS account. You can easily open your account in NPS Vatsalya Yojana by going to your nearest bank or post office. Let's know about this scheme in detail -

You can start investing in NPS Vatsalya Yojana with a minimum of one thousand rupees. The special thing about this scheme is that you get the benefit of compound interest by investing in it.

For this reason, you can collect a good amount of funds for children by investing your money in this scheme. You get a lock-in period of 3 years in NPS Vatsalya Yojana.

During the investment, you can withdraw up to 25 percent of the deposit amount from the scheme in case of studies, treatment of any serious illness or disability. Money can be withdrawn from NPS Vatsalya Yojana only three times.

If you are going to invest in NPS Vatsalya Yojana, then you need to know about some things. To invest in this scheme, the age of the child must be less than 18 years. The objective of NPS Vatsalya Yojana is to give an independent financial future to the coming generation of the country.

(PC: Adobe stock)