You can also open a savings account for your child at the post office. It gives 4% interest annually. This helps build a habit of saving money from a young age. Plus, you can withdraw the money whenever you need it.
Disclaimer: The information in this article is for awareness and educational purposes only. The interest rates for Post Office schemes like Sukanya Samriddhi, KVP, NSC, etc., can be revised every quarter by the Government of India. Before investing, please visit your nearest Post Office to verify the current rates and rules. Always consult a certified financial advisor before making investment decisions based on market risks and your personal financial situation.