Your children are the future of the country, and it is in your hands to make sure that our future is safe. To do it right, it is necessary to plan your childâ€™s higher education as soon as they are born. Decisions related to saving and investing may be difficult for you. This article lists some for the best investment options for your childâ€™s education.
The Best Investment Options For Your Children's Education
Bank Fixed Deposit:
Bank deposits are investments made for a particular time frame. Due to this, the rate of interest at the time of return is higher. But in recent times, most of the financial institutions have cut down the interest rates, which made investing in bank fixed deposit a little dull. And since the maturity amount is taxable, they are very safe but with meager after-tax returns.
Post Office Recurring Deposit:
Another very safe investment is to put money in a post office recurring deposit. It is suitable for long term savings such as toÂ save for a childâ€™s education. One major drawback of putting money in a post office is that the entire receivable amount is taxable. This makes the lump sum return on investment amount lower.
Everybody knows how easy it is to make money by investing in stocks. It requires research, knowledge, time and patience. Investing in shares for a long time is a wise decision: if everything goes as per plan, investing in shares alone can sponsor your children's education and later their marriages, too. But remember: it's hazardous. Sometimes things do not turn out as per the plan and it is a significant risk to take when it is for your children's future.
Child Education Investment Plan:
The best investment plan for the childâ€™s future is plan stands out from the rest as it comes with the option of yearly payout and loan facility in case of any emergencies. You can be there for them when they need you the most, as always. Apart from the benefits mentioned above, there is a tax benefit too. This education investment option also gives you tax benefits under Section 80C and Section 10 (10D) of Income Tax Act, 1961. Get the best investment plan for child education today!