Smart money moves: Financial products for women across life stages

2 min read

Being financially aware and independent is essential for everyone, irrespective of their gender. This International Women’s Day, let us look at some important financial products that can help women achieve their goals.

0-15 years: The Forming Years

These are the early building blocks of a girl’s life and her parents should plan for her bright financial future in these years.

Sukanya Samriddhi Yojana

8% tax-free interest | Tax deduction** under Sec 80C | Maturity amount is tax-free

Minor Savings Account

Long-term savings | Helps to develop a savings habit

21-60 years: The Building Years

This is the most significant phase of a woman’s life, when she is planning for her and her family’s future. Hence, a disciplined and goal-oriented approach to finances is necessary. As life expectancy increases with advances in healthcare, it is also essential to have a proper retirement plan and adequate protection in the form of insurance.

Systematic investments for wealth creation

SIPs*

RDs

Goal-based Investing

Short-term goals: Holiday, car

Long-term goals: Education/Marriage of kids

Retirement Planning

NPS

PPF

Health Insurance

Ensure adequate coverage for critical illnesses e.g. cervical, ovarian and breast cancer

60 years and beyond: The Relaxing Years

The golden years of life should be filled with joy, free of responsibilities and worries.

Asset Consolidation

Consolidate all the assets for easier management

*ICICI Bank Limited is a AMFI Registered Mutual Fund Distributor. Mutual Fund investments are subject to market risk. Read all scheme related documents carefully. T&C Apply.

**Tax Benefits are subject to amendments in tax laws from time to time