The Trump Accounts program officially launched on July 4, 2026, marking a significant expansion of government-backed investment options for children. As reported by Mint, the ARK Invest CEO Cathie Wood has endorsed this new initiative, encouraging parents and grandparents to open accounts for eligible children. Wood emphasized the program's potential to help children "catch and ride the financial wave of this technology revolution" in a May 28 post on X. The Treasury Department rolled out the Trump Accounts app nationwide ahead of the official launch, with Treasury Secretary Scott Bessent stating the program aims to make it easier for families to contribute and track their investments. Robinhood and BNY Mellon have collaborated to build the platform infrastructure, with the official app launching on May 28, 2026 on both App Store and Google Play.
The National Savings Certificate (NSC) remains a premier secure investment vehicle offered through India Post, currently offering an interest rate of 7.7% per annum which is revised quarterly by the Ministry of Finance. As reported by Mint, NSC accounts can be opened by adults for themselves or on behalf of minors under 18 years of age, with minors aged 10 and above also eligible to open accounts independently. The scheme has an investment limit of ₹1,000 with no maximum limit, features a 5-year lock-in period with no extension provision, and offers tax benefits under Section 123 of the Income Tax Act, 2025.
The Sukanya Samriddhi Yojana (SSY) is specifically designed for girl children, offering the highest interest rate of 8.1% among small savings schemes. According to Mint, the scheme allows parents or legal guardians to open accounts, with the child gaining control upon turning 18 years old. The investment limit ranges from ₹250 to ₹1.5 lakh annually, features a 21-year lock-in period or until marriage, and falls under the EEE tax category with tax-free interest and withdrawal upon maturity.
The Public Provident Fund (PPF) offers a 7.1% annual interest rate with quarterly revisions, suitable for any Indian resident including children through joint accounts. As reported by Mint, PPF requires a minimum investment of ₹500 annually with a maximum limit of ₹1.5 lakh per financial year. The scheme features a 15-year lock-in period with extension options, maintains sovereign guarantee status, and provides EEE tax benefits under Section 80C.
NPS Vatsalya is exclusively designed for minors, offering interest rates between 9.5% to 10% and regulated by the Pension Fund Regulatory Authority of India (PFRDA). According to Mint, the scheme requires a minimum contribution of ₹1,000 annually with no upper limit, features a 3-year mandatory lock-in period, and provides tax benefits under Section 80CCD(1B) with contributions up to ₹1.5 lakh exempt for parents and an additional ₹50,000 deduction available.
Trump Accounts are tax-advantaged savings accounts created by the One Big Beautiful Bill Act of 2025, allowing parents, grandparents, and employers to contribute up to a combined $5,000 annually per child. Children born between 2025 and 2028 who are U.S. citizens with valid Social Security numbers are eligible for an automatic $1,000 federal seed contribution. The accounts grow tax-deferred and convert to traditional IRAs on January 1 of the year the child turns 18, when standard IRA withdrawal rules apply. Contributions are not deductible, and employers can contribute up to $2,500 per employee to a Trump Account, which is not taxable to the employee. Only one Trump Account can be established per eligible child, making communication between family members critical to avoid multiple accounts.
