Updated: January 24, 2019, 1:31 PM IST
Doing this is the beginning of the investment-Only a single name for the child can be invested in a mutual fund. In such an investment the name of the receiver is needed. To get a mutual fund in the name of children it is necessary to have a child's birth certificate. If the child has a passport, he may also be valid. Along with that, his father's documents are required.
Deposit every month
Systematic Investment Plan is the most popular form of investment in mutual funds. Investing in the name of children can also be beneficial for investing in Systematic Investment Plan. However, after 18 years of age the child can not be invested in it. After the child is 18 years old, after a process, the whole money will be in the name of the child.Child can be millionaires in 18 years
If you want your child to be 18 years old and become a millionaire, then the child will have to start from 5000 rupees on his name as soon as he is born. Increase this investment by 15% every year. If the average return on investment is 12 per cent each year, then in 18 years the child will become millionaires.
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