New Delhi: The cost of children’s education is constantly increasing, in such a situation it has become very important to prepare a good fund for their higher education. For this, it is most important that you start raising funds for your child’s education in advance. There are many investment options available in the market, some of which can help you raise funds for your child’s higher education. Today we are going to tell you about two investment options, which are mutual fund equity schemes and Sukanya Samriddhi Scheme. Let us tell you the difference between the two.
Investing in equity schemes
You can invest in any equity scheme of a mutual fund through Systematic Investment Plan (SIP). In this, a fixed amount is deducted from your account on a fixed date every month, which you can choose as per your convenience.
Equity mutual fund
If you invest in an equity mutual fund through SIP, you will be able to invest Rs 24,000 every year. If you invest for 20 years, you will be able to invest a total of Rs 4.80 lakh. If you look at this investment on an annual basis, you get a return of up to 12 percent, then in 20 years you will be able to raise a fund of Rs 18.40 lakh for your child.
Sukanya Samriddhi Scheme
You can also invest in Sukanya Samriddhi Scheme. This is a government scheme. There is no risk in it. However, the government keeps changing its return interest from time to time. Currently, interest is given at the rate of 8.1 percent every year. If you invest 2 thousand rupees every month in this scheme, then you will be able to invest 24 thousand rupees every year. In this way, you will be able to invest a total of 4.80 lakh rupees in 20 years. The annual interest in this is 8.1 percent. According to this, you will be able to raise a fund of 11.59 lakh rupees in 20 years.