Child Mutual Fund: On 27 September this year is Daughter Day. How can you make this day special for your daughter?
Mutual Fund For Child
Today is 27th of September, Day of the Day. How can you make this day special for your daughter? If you are thinking about his better future, then it is better that you can start financial planning for him on this Daughters Day. There are many options for this in the capital market, one of which is also a mutual fund. There are also some mutual fund plans for children separately. However, there are some conditions for this, until the child becomes an adult. It has children plans from funds like HDFC, ACBI, Axis, ICICI Prudential, Tata and UTI.
What is the condition for Child Mutual Fund?
If a fund is invested in the name of a minor child, then there is no joint holder with the child. It is reproduced by the child’s parent or legal guardian. While filling the form, details of the PAN card of the parent or guardian are given. However, it should have the child’s birth certificate or passport. Parents or parents can run the fund account till the child is 18 years old. After the child attains all the transactions for the time being stopped until the status of the account becomes minor.
Sukanya Samriddhi Yojana: This is beneficial for daughters in the post office
The benefit of a child plan
Experts say that the advantage of child plans is that they have a lock-in period, from which one cannot withdraw money before a certain time. In these, you cannot withdraw investment till the age of 5 years or the child is an adult. Some child plans give different options to investors depending on the composition of equity and debt. This reduces the risk in the long term.
Is only child plan better?
AK Nigam, director of BPN Fincap Consultant Private Limited, says that there are many plans in the market in the name of child mutual funds. But with them, child mutual foo is applied so that they can make parents happy. If some of these plans are good, then money should be invested in them. But it is not that in the name of a child, you can invest only in those funds with which the child is associated. For this, parents can also look at other mutual funds. Top Children Plan Returns….
PPF Vs SSY: Where to deposit money for children?
HDFC Children’s Gift Fund
Launch Date: 2 March 2001
Return since launch: 15.18%
10 Year Return: 11.5%
Value of 1 lakh investment in 10 years: 3 lakh rupees
Minimum investment: Rs 5000
Minimum SIP: Rs 500
ICICI Prudential Child Care Fund
Launch Date: 31 August 2001
Return since launch: 14.46 percent
10-Year Return: 7.58%
Value of 1 lakh investment in 10 years: Rs 2.08 lakh
Minimum investment: Rs 5000
Minimum SIP: Rs 100
Invest only Rs. 150 and get free from your child future, check which LIC Plan
SBI Magnum Children’s Benefit Fund
Launch Date: February 21, 2002
Return since launch: 10%
10-Year Return: 9.94%
Value of 1 lakh investment in 10 years: Rs 2.58 lakh
Minimum investment: Rs 5000
Minimum SIP: Rs 500
(Source: Value Research, BankBazaar.com)
