Sukanya Samriddhi Account (SSA) vs Public Provident Fund (PPF)

Particulars	Sukanya Samriddhi Account (SSA)	Public Provident Fund (PPF)
Who can open	Only girl child	Indian Citizen
Where to open	Post office and Authorized Banks	Post office, Govt. Banks and some private banks
Minimum Contribution per year	INR 1,000	INR 500
Maximum Contribution per year	INR 1,50,000	INR 1,50,000
Maximum no. of contribution	No limit as of now	12 transactions allowed in an year
Age Limit	From birth till the age of 10 years	Individual of any age
Interest Rate	9.10% p.a. for financial year 2014-15	8.70% p.a. for financial year 2014-15
Tax Benefit on the contribution amount	Tax benefit u/s 80C	Tax benefit u/s 80C
Tax Benefit on the interest amount	INR 1,500 will be deductible u/s 10(32)	Interest is tax free
Contribution Period	14 years	15 years
Maturity Period	21 years	15 Years
Premature Withdrawal	Upto 50% for the girl’s higher education and marriage after she attains 18 years of age. In case of death of girl child, the account gets closed and full amount can be withdrawn.	Allowed subject to certain conditions
Loan	Not allowed	Allowed subject to certain conditions
Tax on Maturity	Tax free	Tax free
Penalty	INR 50 per year if minimum contribution is not made	INR 50 per year if minimum contribution is not made