The cost of education of children is increasing continuously, in such a situation, it has become very important to prepare a good fund for their higher education. The most important thing for this is that you start raising funds for your child’s studies in advance. There are many investment options in the market, some of which can help in raising funds for your child’s higher education. Today we are going to tell you two investment options which have equity scheme of mutual funds and Sukanya Samriddhi Scheme. Let us tell you the difference between the two.
Investment through SIP in mutual fund equity scheme
You can invest in an equity scheme of mutual funds through a systematic investment plan ie SIP. In this, you have a certain amount cut from your account in a certain date of every month, which you can choose according to your own.
If you invest in an equity mutual fund through SIP, then you will be able to invest 24 thousand rupees every year. If you invest for 20 years, then your total total will be able to invest a total of 4.80 lakh rupees. If you look at this investment on an annual basis, then you get a return of up to 12 percent, then in 20 years you will raise a fund of 18.40 lakh rupees for your child.
Sukanya Samriddhi Scheme
You can also invest in Sukanya Samriddhi Scheme. This is a government scheme. There is no risk in this. However, the government keeps changing its return interest from time to time. In the recent times, interest is available every year at 8.1 percent.
If you invest 2 thousand rupees every month in this scheme, then you will be able to invest 24 thousand rupees every year. Similarly, in 20 years you will be able to invest in total 4.80 lakh rupees. The annual interest in this is 8.1 percent. Accordingly, in 20 years, you will be able to raise funds of Rs 11.59 lakh.