SBI MAGNUM CHILDREN'S BENEFIT FUND - review needed
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I was looking for an investment option for my kid and first thing that popped into my mind was a SSY account.
I spoke to one of my friends in SBI and he suggested that this mutual fund can give better return than SSY in long term.
While there's no denying the fact that MFs can give better compounding results but they are also bound to market directions.
Is anyone invested in SBI's MAGNUM CHILDREN'S BENEFIT FUND - INVESTMENT PLAN which is only for kids and has lock in period of 5 yrs. Demerit is that we can't do SIP online and will have to visit local branch for each SIP.
What other options can I explore? Investment horizon will be atleast 10 yrs but in the name of kid only.
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He's in a different city so no chances of him earning a commission on this.
Already have pf in my name but the interest rate in ssy is better.
What's dyor?
Already have pf in my name but the interest rate in ssy is better.
What's dyor?
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Demerit is that we can't do SIP online and will have to visit local branch for each SIP.
dont know about ur kid but your friend will earn good amount. do ppf and all other things if you are a risk averse guy otherwise buy a fund, dyor, and keep investing in it in the name of ur kid.