The cost of education of children is continuously increasing, which has made it very important to save money for their higher education. It is an important step for this to start investing on time. There are many investment options available in the market, some of which can provide financial security for your daughter’s future. Today we will give you detailed information about the equity scheme of mutual funds and Sukanya Samriddhi Yojana.
Mutual fund
You can invest in equity schemes of mutual funds through systematic investment scheme (SIP). In this, a certain amount is deducted from your account on a certain date every month, which you can choose at your convenience. If you invest Rs 24,000 every year through SIP in equity mutual funds for 20 years, then your total investment will be Rs 4.80 lakh. If you get a return of 12 per cent annually on this investment, then in 20 years you will be able to prepare a fund of Rs 18.40 lakh for your daughter.
Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana is a government scheme that has no risk. In this scheme, the government changes the interest rate from time to time. Currently, the scheme offers an annual interest rate of 8.1 percent. If you invest Rs 2,000 every month i.e. Rs 24,000 every year, then your total investment in 20 years will be Rs 4.80 lakh. At an interest rate of 8.1%, you will be able to collect funds of Rs 11.59 lakh in 20 years.
Difference between the two
risk: Equity schemes of mutual funds have risks related to stock market, while Sukanya Samriddhi Yojana is a government scheme, so there is no risk in it.
Return: Equity mutual funds can get a return of up to 12 percent, while Sukanya Samriddhi currently provides an interest rate of 8.1 percent.
Benefit: In mutual funds, you can get Rs 18.40 lakh in 20 years, while in Sukanya prosperity you will get Rs 11.59 lakh.
Which of these two plans is best for your daughter’s future, it depends on your risk tolerance and financial goals. Mutual funds can give more returns if you can take a risk, while Sukanya prosperity is suitable for safe investment.
The post Sukanya Samriddhi Yojana or Mutual Fund? What is the best for your daughter’s future? Learn here first appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.
