The Ultimate Guide to Best Child Investment plans to invest in India
When it comes to quality education, Indian parents leave no stone unturned. To safeguard your child’s future against all odds, you need a child investment plan.
With the growing cost of education, saving for multiple goals like school, higher education, college, marriage, and house, and keeping up with different education needs like gadgets, school trips or books is becoming harder for Indian parents.
A child investment plan helps you manage all these expenses timely and seamlessly. It helps you create a solid plan based on your child’s unique goals.
With a good child investment plan, you not only secure their tomorrow but you save money in terms of taxes and reduce the looming threat of financial stress on your family.
In this blog, we cover all you need to know about child investment plans and how easy it is to secure your child’s bright future!
- Child investment plans guide
- Best child investment plans
- 1. UTI CCF – Investment Plan – Growth Direct child investment plan
- 2. Tata Young Citizens’ Fund Direct-Growth child investment plan
- 3. HDFC Children Gift Fund Direct Plan child investment plan – (HDFC investment plan for child)
- 4. Axis Children’s Gift Direct No Lock in a Growth child investment plan
- 5. SBI Magnum Children’s Benefit Fund Direct-Growth child investment plan
- 6. Aditya Birla Sun Life Bal Bhavishya Yogna Direct-Growth child investment plan
- 7. LIC MF Children Gift Fund Direct Plan child investment plan – (One-time investment plan for child in LIC)
- Importance of child investment plans
- Benefits of child investment plans
- The right time to invest in child investment plans
- Key milestones to plan for child investment plans
- Types of Child investment plans for girl and boy child
- Child investment plans calculators
Child investment plans guide
Chapter 1: Best Child Investment Plans in 2022
Chapter 2: Importance of child investment plans
Chapter 3: Benefits of child investment plans
Chapter 4: The right time to invest in child investment plans
Chapter 5: Key milestones to plan for child investment plans
Chapter 6: Types of child investment plans
Chapter 7: Child investment plan calculators
Chapter 8: How to choose the right child investment plan
Best child investment plans
There is no better gift that a parent can give to their child, than the promise of a secure future.
There are critical aspects that a parent should never ignore like the rising cost of education, stationary, books, medical expenses, etc.
Here are some of the best-saving child investment plans:
- UTI CCF – Investment Plan – Growth Direct child plan
- Tata Young Citizens’ Fund Direct-Growth child plan
- HDFC Children Gift Fund Direct Plan child plan
- Axis Children’s Gift Direct No Lock in Growth child plan
- SBI Magnum Children’s Benefit Fund Direct-Growth child plan
- Aditya Birla Sun Life Bal Bhavishya Yogna Direct-Growth child plan
- LIC MF Children Gift Fund Direct Plan child plan
1. UTI CCF – Investment Plan – Growth Direct child investment plan
The fund is investing predominantly in equity and equity-related instruments across market capitalization. The fund has invested 98.21% in stocks, 0.12% in debt, and the remaining 1.66% in cash.
The fund has a diversified portfolio that consists of 55 stocks. The fund follows a growth style of investing which means that the fund invests in stocks with high growth potential.
The fund has given consistent performance over the period. Parents who want to invest in a child investment plan can consider this as one of the options.
2. Tata Young Citizens’ Fund Direct-Growth child investment plan
The fund is investing predominantly in equity and equity-related instruments across market capitalization. The fund has invested 97.88% in stocks and 2.12% in cash.
The fund has a diversified portfolio that consists of 55 stocks. The fund has given consistent returns with lower volatility. Parents can consider this plan as one of the child’s investment options to save for their child’s future.
3. HDFC Children Gift Fund Direct Plan child investment plan – (HDFC investment plan for child)
The fund is investing has invested in different asset classes including equity and debt. The fund has invested 66.88% in stocks, 24.67% in debt, and the remaining 8.45% in cash.
The fund has a diversified portfolio which consists of 46 stocks and 16 bond holdings. The fund follows a growth style of investing which means that the fund invests in stocks with high growth potential.
The fund has given consistent performance over different trailing periods.
4. Axis Children’s Gift Direct No Lock in a Growth child investment plan
The objective of the fund is to generate income by investing in debt & money market instruments along with long-term capital appreciation through investments in equity & equity-related instruments.
The fund has invested 70.08% in stocks, 18.84% in debt, and the remaining 11.08% in cash. The fund has diversified its investment in different asset classes to minimize the risk and maximize the returns.
The fund’s focus is to reduce volatility and enhance returns.
5. SBI Magnum Children’s Benefit Fund Direct-Growth child investment plan
The objective of the fund is to provide the investors an opportunity to earn regular income predominantly through investment in debt and money market instruments and capital appreciation through an actively managed equity portfolio.
The fund has invested 22.25% in stocks, 48.05% in debt, and the remaining 29.67% in cash. The fund has very low volatility as the major portion of the money is invested in debt and debt-related instruments.
Also, the fund holds AAA-rated quality bonds. The fund is good to invest for a child’s future as the volatility is low and has delivered good returns.
6. Aditya Birla Sun Life Bal Bhavishya Yogna Direct-Growth child investment plan
The investment objective of the Wealth Plan is to seek the generation of capital appreciation by creating a portfolio that is predominantly investing in equity & equity-related securities and debt and money market instruments.
The fund has invested 98.64% in stocks and 1.36% in cash. The fund has invested across sectors and follows a growth style of investing with a major portion invested in large-cap companies.
Parents planning to save for their child’s future can consider investing in this fund.
7. LIC MF Children Gift Fund Direct Plan child investment plan – (One-time investment plan for child in LIC)
The primary investment objective of the fund is to seek to generate capital appreciation & provide long-term growth opportunities by investing in a portfolio constituted of equity securities & equity-related securities and the secondary objective is to generate consistent returns by investing in debt and money market securities.
The fund has invested 86.36% in stocks, 3.82% in debt, and the remaining 9.82% in cash. The fund is a consistent performer and has delivered good returns over the period.
All the above-mentioned plan has a lock-in period for investment for children having a lock-in for at least 5 years or till the child attains the age of majority, whichever is earlier. This also provides you consistency in your investment journey.
*Disclaimer: This is not investment advice
Importance of child investment plans
Child Investment plans for children help you and your child prepare financially for growing education costs, unanticipated illnesses, and bad circumstances.
Planning for your child’s future must begin as soon as feasible. This lengthens the time frame over which your assets can increase and balances the associated risks.
1. Funding for children’s education
As your child gets older, a significant portion of your resources will go into paying for your child’s education, thus preparing for higher education is essential for guaranteeing their future.
You may generate the money required so that your child can follow their ideal job by investing in their education. With college costs increasing, every day matters when it comes to being financially prepared for your child’s education.
Get in touch with our experts at EduFund and you can save up to 2.5 Cr by starting today.
2. Flexibility to withdraw part of funds
By selecting a child investment plan that gives you the freedom to withdraw funds as per your kid’s requirements, you may easily access a portion of your funds while the remainder of your investments continues to grow.
3. Protection against uncertain times
Many kid insurance policies have advantages including premium waivers. This makes it such that, in the sad event that anything bad happens, future premium payments won’t be necessary.
The investment yields a lump sum payment upon maturity and grows without the requirement for premium payments. This guarantees that no matter what, your child’s dreams are protected.
4. Different investment options for your child
Fixed deposits and other traditional products might not be enough to cover your child’s college costs. Other products like equities funds, balanced funds, and shares should be taken into account.
You can select one of the following investment strategies depending on your time frame:
The best option is debt mutual funds if your child will need the money within five years. Such funds can provide liquidity while producing returns that are more than the rate of inflation.
You can mix several financial products for long-term aims. You have the option of investing in gold, stocks, and debt.
Although exposure to the stock market is hazardous, investing in equities gives investors the chance to generate larger profits over the long run.
PPF is one of the greatest investment options for financing a child’s education. To establish a sizable corpus, you must begin this early and invest steadily.
Numerous insurance providers provide a range of kid-focused solutions. When your child needs the money to pursue further education, you may choose to implement more mature policies.
5. Investment strategy for children’s investment plan
List concrete objectives from the outset, such as the child’s desired schooling and associated fees.
This will enable you to estimate how much you can afford after paying all of your usual bills and how much you need to save each month.
You must keep in mind, though, that loans can also be used to pay for education. Saving for your child’s education does not, therefore, require you to forgo other expenses like healthcare and retirement.
Reduce your stock exposure as the financial objective approaches to lower the chance of negative market moves.
Benefits of child investment plans
1. Financial security
Savings plans for kids offer a lump sum payout in the form of the claim amount in the event of an unexpected circumstance.
The plan is still in effect, and the life insurance company is responsible for all future premium payments. The payoff received after the insurance period guarantees that your children’s wishes will always come true.
2. Tax benefits
Additionally, these plans provide Section 80C tax advantages on premiums paid up to INR 1.5 lakh in a fiscal year.
According to Section 10(10D) of the Income Tax Act of 1961, the pay-out received after the policy term is likewise tax-exempt.
3. Education costs benefits
Almost all parents, when asked about their top worry for their child’s future, will quip about how expensive schooling has become in the modern world.
It costs money to send your child to a decent school. Additionally, as the years pass, your child could opt to pursue other education that would cost the earth.
Your financial load will be lessened if you make wise financial decisions and enroll in a kid insurance plan that matures throughout these seasons.
4. Withdraw part of the funds
After the policy term, child plans provide maturity benefits in the form of a lump payment. You may choose a maturity date based on how soon your child will require money in the future.
Your investment accumulates a tidy corpus over the course of the term, which is sufficient to pay for your child’s dreams.
5. A habit of saving
As we have indicated, childcare plans offer the benefits of both insurance and investment. Go back to your financial plan before purchasing a child care plan and estimate your financial needs at each stage of life.
Determine the expenses you are saving for, such as elementary and secondary education, college, a wedding, etc. Additionally, evaluate your other obligations, such as a mortgage, and decide on an insurance plan that perfectly complements your financial strategy.
Although it may at first seem like a nuisance, making regular premium payments will eventually become a habit that will serve you well as your child becomes older.
The right time to invest in child investment plans
The best time to start investing is right now since there are several advantages to beginning early. The sooner you begin investing, the more you can eventually give your kids.
Your biggest ally is time, so even if you just save a tiny amount today, it will eventually grow into a sizable corpus.
The power of compounding should be fully utilized in order to maximize the profits that will be created on any current investments you make. Starting to save for your children as soon as possible is a wise move.
You may make sure that every monetary element of their lives is taken into consideration in this way. But it’s never too late to start saving.
Even if you start saving while your kids are young (1 to 8 years old), you can amass enough money to support them as they age and their expenditures rise.
Here are some factors to help you determine the right time to invest in child investment plans:
a) Time Horizon
When do you need the invested money and how long can you stay invested?
Based on your time horizon and risk assessment you can take the help of a financial advisor to figure out the best child investment plan for your child’s needs. The benefits are often larger the longer the time horizon.
b) Risk Assessment
What is your risk appetite? This is a very common question every investor should ask themselves before investing their money in any investment.
Are you risk-averse or are you willing to take a risk? Based on your answer, you can figure out the best investments.
c) Cost of Education
The average cost of your child’s future education must be considered as the second element. Costs for postgraduate education are sometimes greater than those for graduation, however, this varies per school.
You should also think about whether you want your child to have a local education or a global education.
You could also consider your child’s graduation in your own nation as well as their subsequent post-graduation in a foreign nation.
Key milestones to plan for child investment plans
There are key milestones that you need to focus on when planning your child’s investment plans. What do key milestones mean?
It means certain events for which you need to be financially prepared like your child’s school, college and marriage. It is important to keep these events in mind before allocating funds toward a child investment plan.
When budgeting and preparing their investment for their child’s education, parents should expect the primary school tuition price, and expenses like uniforms, books, extracurricular activities, transport fees, yearly vacations, picnics, etc., to be between (INR 1.25 – 2 lakh per year).
2. Higher education
The yearly cost of study and living is the first and most important element that one has to take into account before enrolling in college.
Universities offer housing on their campuses for both domestic and international students. However, if the institution you have selected to attend does not provide this amenity, you may simply obtain personal accommodations.
Following is the estimated cost of studying UG and PG courses from India and abroad:
- Govt Colleges in India will cost around Rs 5-6 lakhs.
- Private Colleges in India will cost around Rs 8-10 lakhs.
- Studying Abroad can cost up to INR 1 crore.
Although it is stated that marriages are created in paradise, they take place on Earth and require a lot of money to make them memorable.
You arrange your “Big Day” to be a special occasion for both you and the family that attend the ceremony. The Indian wedding market is presently worth over Rs. 1,000 crores and is expanding quickly, at a pace of 25–30% annually.
The average cost of a wedding in India ranges from INR 20 lakhs to 5 crores. According to estimates, the average Indian spends one-fifth of his lifetime earnings on his wedding.
Also, you need to assemble a skilled team, including event planners, florists, caterers, and fashion designers, to make your special day extraordinary.
Types of Child investment plans for girl and boy child
There are several types of child investment plans to consider your child’s unique goals. Based on your risk assessment, time horizon, and your child’s education goal, you can choose one or more child investment plans to give your child an edge. Here are the different types of child investment plans you need to consider:
1. Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana is a unique child investment plan for parents of a girl child. This is offered by the Indian government to encourage parents to save and invest in their daughters early on.
The main objective of the SSY program is to encourage parents to make substantial financial commitments to a strategy for their daughters’ future education and marriage.
Parents who have girls under the age of ten can invest in the SSY program. The SSY program investment is locked in for 21 years post-account opening.
After the account is opened, the parent is allowed to invest for a total of 15 years. Investments made in SSY accounts are eligible for tax deductions under Section 80C of the Income Tax Act of 1961.
Each year, a minimum investment of ₹250 must be made, and a max investment of ₹1,50,000 may be made. SSY accounts can be opened and utilized at any location of an accredited bank or the India Post Office.
2. Equity Mutual Funds
When your child is still small and you have at least 15 to 20 years till retirement, it is excellent to begin investing in equities mutual funds.
This enables you to withstand shocks like stock market collapses and volatility. Equity investing is not for everyone since it demands technical expertise and the capacity to keep current.
To choose equities mutual funds is, therefore, the better option.
These are managed by professionals who are aware of how to choose the least hazardous stocks while still making sure that your money grows over time.
You may put together a portfolio of equity mutual funds just for your child’s schooling. When your child is 4 or 5 years old, you may accomplish this by creating an account specifically for children and choosing Systematic Investment Plans (SIPs) in risky products like equities mutual funds.
Then, when you and your child become older, you can take a more conservative approach.
3. Public provident fund (PPF)
Parents continue to favor PPF even after the government lowered interest rates on provident fund accounts.
Because you cannot take the corpus until the conclusion of the 15-year maturity period, PPF deposits promote discipline. You may build your corpus for educational purposes because the principle, interest, and total maturity amount are all tax-free.
You may rest certain that your money is secure because the government backs PPFs. However, because PPFs’ official interest rates have already decreased, relying only on them can result in a cash flow problem.
Build your portfolio to provide larger returns to prevent this. For your child’s future, choose a well-balanced investment portfolio that includes both PPFs and Unit Linked Insurance Plans (ULIPS).
4. Direct Equity
Direct equity, sometimes referred to as stock investing, is perhaps the most effective investment strategy. You get a stake in a company when you buy stock in it.
You are personally responsible for funding the business’s growth and advancement. You need to have the necessary time and market knowledge to make money from your investment.
Publicly traded companies provide their stocks on reputable stock markets. Stocks are the finest long-term investments. You must actively manage your assets since several economic and commercial factors influence shares.
You must also be aware that profits are not guaranteed, and you must be willing to assume the associated risks.
5. Fixed Deposits
Banks and other financial organizations provide FDs as one sort of investment. You earn a fixed rate of interest for a predetermined amount of time after making a deposit.
Compared to mutual funds and equities, fixed deposits offer complete capital protection and guaranteed returns.
You give in, though, since the rewards remain the same. The banks establish the interest rate on fixed deposits by the RBI’s policy review decisions, and it changes depending on the status of the economy.
Despite being typically locked-in investments, fixed deposits are commonly accepted as collateral for loans or overdraft facilities by investors. A fixed deposit with tax advantages and a 5-year lock-in is also available.
6. Employee Provident Fund
The EPF is one of the investment vehicles geared toward retirement, and it enables salaried individuals to take advantage of a tax credit under Section 80C of the Income Tax Act of 1961.
EPF contributions are often provided by the employer in addition to employee deductions that are typically made as a percentage of monthly wages.
Once it reaches maturity, the EPF withdrawal corpus is entirely tax-free. The Indian government also determines the EPF rates each quarter and provides a guarantee on your EPF deposits.
7. US stocks
By purchasing US stocks, you may gain exposure to the most well-known brands, like Nike, Starbucks, and other well-known companies like Tech Giants Google, and Apple.
These businesses are well-known and present around the world. You may diversify your portfolio by investing in such businesses.
Over the previous five years, the US dollar has increased. You acquire US Dollars when you invest in US stocks. When these assets are kept for a lengthy period, the value of your investment rises about the USD exchange rate.
8. National Pension System
The National Pension System is a more modern alternative for tax-saving investments (NPS). NPS plan subscribers must stay committed until retirement and can anticipate higher returns than those from PPF or EPF.
This is true since the NPS offers plan choices that include stock investments. A portion of the tax-exempt NPS maturity corpus must be utilized to purchase an annuity that will give the investor a regular pension.
Child investment plans calculators
By using different child investment plan calculators, you can prepare yourself for the increasing cost of education.
Child investment plan calculators like the mutual fund, SIP calculator, lumpsum calculator, and step-up calculator enable parents to make informed decisions about their child’s investment plans.
These calculators will help you figure out how much you need to save every month and your one-time investment based on your investment choice.
Let’s find out in detail how child investment plan calculators work.
Mutual fund calculator?
A mutual fund calculator is used to calculate and estimate the returns yielded via investing in mutual funds.
There are two ways in which you can invest in mutual funds – Lumpsum (one-time investment method) and SIP (systematic investment at pre-decided intervals).
Lumpsum investment calculator?
When you invest in a mutual fund through the lump sum method, it means a single, bulk amount has been invested into a mutual fund scheme in one go.
The user must enter the investment amount, duration, and expected return rate to get the estimated future value of the investment. The calculation is based on the following formula:
Future Value = Principal * (1 + r/100)^n where:
n = duration of the investment
r = Rate of return
For example, if you have invested a lumpsum amount of ₹50,000 in a mutual fund scheme for three years and have estimated the rate of return at 8% per annum, the future value of your investment is ₹62,986.
Systematic Investment Plan (SIP)?
SIP is a method of investing in mutual funds that enables an individual to invest a fixed amount in a mutual fund scheme at regular intervals (monthly, quarterly or semi-annual) instead of making a lump sum investment.
The amount can be as low as ₹500 a month depending upon the selected fund. The aim of investing in mutual funds through SIP is to create wealth in the long run and to invest systematically over a long period.
The SIP calculator helps estimate the returns you would earn on your SIP investments.
The user must enter the SIP frequency (monthly, quarterly, or semi-annual), the amount to be invested in each SIP, the investment duration, and the expected return rate to get the estimated future value of the amount accumulated at the end of the SIP tenure.
The calculation is based on the following formula:
FV = P [ (1+i)^n-1 ] * (1+i)/i where:
FV = Amount you receive upon maturity
P = Amount you invest at regular intervals
n = Number of payments you have made
i = periodic rate of return
Suppose, you invest ₹500 per month for 12 months at an annual rate of interest of 12%, the monthly rate of return will be 1% (which is 12% ÷ 12).
Hence, the estimated future value of the amount accumulated at the end of the SIP tenure is ₹6405.
How to choose between Lumpsum or SIP investment?
Both are great tools of investment for all types of investors. If you have a surplus and wish to invest the amount in a well-researched fund then the lumpsum tool is a great idea, it allows you to pool your money immediately.
Another method is SIP which is extremely useful for investors with limited resources. It allows you to invest small sums of money at pre-decided intervals in a chosen mutual fund.
The greatest benefit of investing via SIP is that it builds wealth in the long, and gives you the flexibility to choose the amount you wish to invest and your chosen timeline.
Another benefit of SIP investment is that you can stop it at any given moment or increase the amount if you have a surplus.
A SIP investment works as a reverse EMI option where you have the flexibility to invest a portion of your income into your chosen fund and cultivate a disciplined manner of investing.
Suppose you wish to start saving for your child’s higher education and do not have a surplus amount to start with.
This is where a SIP comes in, it allows you to invest a nominal amount in one or many mutual funds so that you do not miss out on the opportunity of saving and investing for your child’s future.
Investors can opt for both tools. You can start a SIP and place lumpsum orders on certain funds whenever you have a surplus of funds so that you can achieve your goals faster and more efficiently.
Step-up SIP calculator?
Step-up SIP, also known as top-up SIP, is an automated facility through which SIP contributions can be increased by a predetermined amount, or a fixed percentage, at periodic intervals in sync with your financial goals and level of income.
Step up Sip calculator gives you the future value of your SIP investments, increasing periodically by a given percentage. The user must enter the SIP frequency, amount to be invested in each SIP, investment tenure, the growth percentage of SIP investment, and the expected return rate to get the estimated future value of the amount accumulated at the end of the tenure.
If you want to step up your SIP in the future, it’s important to activate the option on your chosen fund and find the minimum SIP amount you may need to invest if you want to avail of this option in the future.
For example, most funds allow you to activate the step-up SIP option if you invest a certain amount recommended by the fund. This is a great method to periodically increase your investments as your income appreciates and your goals shift.
A college cost calculator powered by EduFund is another tool to help with a child’s investment plans. The college cost calculator helps you as a parent to find out the future cost of studying and living in a new country and city.
For instance, you want to send your child to the US to study MBA in 10 years. Fill out these details onto the college cost calculator and the calculator will tell you the exact cost of studying 10 years from now.
It accounts for inflation and increases in fees to help you save for the right amount so that your child’s dreams can soar high! Stop guessing, click here to find out how much you need for your child’s college.
How to choose the right one-time child investment plan?
Choosing the right child investment plan is the toughest decision you will make as a parent. To help you simplify this process, here is a small checklist to guide you:
1. Know your financial goals
You may have multiple goals to achieve. But prioritize the goals that are important for you and have to be achieved within a restricted timeline.
Always know what you are saving for. Remember to quantify your goal.
How can you quantify the goal? Know what you are going to be spending on that goal by adjusting for inflation for the time period when you will be achieving that goal. In this case, the goal would be the child’s education.
Now knowing what costs you are going to incur for your child’s higher education can be easily determined by using EduFund’s College Cost Calculator.
2. Find out your risk profile
Based on the phase of life you are in and the career stage you are in, you can figure out your risk profile.
Usually, the risk profile can be determined by knowing what is time left for achieving the goal. Usually, short-term goals comprise less risky investments whereas long-term goals comprise very high-risk investments mainly for long-term capital appreciation.
3. Know your investment horizon
Always know what is the timeline for your investments. By knowing the time you have left for your investments, you can always plan better to have a proper time frame for your investments.
Having a set timeline helps you prepare well in advance to make your investments and helps you achieve the goal more efficiently by knowing what amount you have to set aside periodically to achieve your goal.
For example, equity-based investment options are suitable for long-term investment horizons, whereas debt-based options are better for short-term investment options.
4. Analyze different investment options
Always perform a thorough analysis of any investment option before putting your money in it. Just don’t invest in any fund or instrument purely based on past performance.
Other factors to consider while evaluating investment options are fundamentals of the fund, underlying asset or portfolio holding of the fund, cost of investing or expense ratio of the fund, downmarket capture of the fund, etc.
All this will help you know the suitability of the fund for your portfolio.
5. Have a goal-based planning approach
Having a goal-based planning approach helps you tick all the boxes at once.
It helps you plan your investments in such a way that it creates a well-diversified portfolio with proper periodical rebalancing to help reduce the overall portfolio volatility.
A goal-based plan, takes your investment objective, risk appetite, time horizon, and your disposable income into consideration and
6. Have an exit strategy
Have a well-planned exit strategy. If you don’t have proper liquidity at the time when you actually need the money, then you fall short of achieving your goal!
But when you have a properly planned exit strategy, it ensures that one, your portfolio doesn’t have high volatility towards the end of your investment horizon, and two, your portfolio has the liquidity to achieve the goal you have planned for.
7. Choose the right investment advisor
Are you still confused with all this jargon? Do not worry! This is when an Investment Advisor comes in to help you achieve your goals and make the entire investment journey smooth for you.
An Investment Advisor understands your goals, your timeline, your requirements, etc, and formulates a customized plan to get you closer to achieving your goal.
The Advisor also periodically rebalances your portfolio so that your investments do not face very high risk and volatility. Choosing the right Investment Advisor can be a deal breaker for you to achieve your financial goals, so make the right choice after completing the evaluation.
How to plan investment for a child?
To plan your child’s investment, you need to find out your financial goals and create a plan to achieve them.
Figure out what, when, and where your child wants to study, find out the cost using the College Cost Calculator, and then pick a variety of recommended funds to meet your goals faster.
You can also reach out to an investment advisor and plan investments for your child with expert guidance and monitoring.
How do I secure my child’s future?
To secure your child’s future needs and ambitions, you need a child investment plan.
The cost of raising a child is increasing every year and a majority of this expense goes toward quality education. As costs hike up, the need to invest and save needs rises as well so that your child is not left behind.
How do I plan for my child’s future?
You can plan your child’s future by setting your financial goals and creating a concrete financial plan to achieve them. One way is to start a SIP in a chosen investment plan to give your child an early start.
How do I save money after marriage?
After marriage, the best way to save money is to start budgeting and investing routinely. Whether it’s investing Rs. 100 or 1,00,000, starting a habit of investing every month can help you save better.
If you are planning to start a family then start saving through SIPs for your child’s education needs. You can start a small SIP of R.s 200 or 2000 and watch it grow over the years.
How do I save money for my son?
To save money for your son, you can start a small SIP in a chosen investment based on your goals, time horizon, and risk profile.
You can connect with a financial advisor on EduFund or use the College Cost Calculator to customize your child’s investment plan based on the future cost of education and living expenses for your child’s favorite course
What is the minimum amount of investment required?
The minimum amount for investment is Rs. 100 for SIP and Rs. 500 for lumpsum in mutual funds.
Different mutual funds have different criteria but the minimum amount is generally low and investor-friendly to encourage more investors to secure their family’s future.
What documents are required for starting an investment plan?
To start investing you need to be 18 years of age, must have a bank account, and must have an ID card (Aadhar card in India) and a PAN card to open an account.
Once your KYC is complete and approved, you can start investing in India.
Quality education is the key to a successful career and life, so don’t compromise your child’s education. Start investing in child investment plans so that your child can dream big and achieve bigger!
Consult an expert advisor to get the right plan
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