new Delhi. Due to the Corona epidemic, the country’s economy has suffered badly. Banks are also continuously dropping interest rates in FD and other schemes due to falling GDP. In such a situation, it is a big challenge for people where to invest their money. If you are also worried about the future of your children, then SBI Mutual Fund can be a good option for you. It is expected to provide good return on investment. Which will be useful for your children from their education to their marriage.
State Bank of India has recently launched the ‘SBI Magnum Children’s Benefit Fund Investment Option’ scheme. Children’s future can be made safe by investing in this plan. The plan will be opened for subscription on 8 September and will be closed on 22 September. The lock-in period in this plan is 5 years. That is, the investment made in this fund cannot be withdrawn before 5 years.
Special things related to the plan
This new SBI fund is a good option for children between the age of 1 to 14 years. The child’s parents can invest in the fund from a joint account with him. They will manage it till the child is 18 years old. After this the account will freeze. When the child completes the KYC process, the account will be activated again. The child can then operate a mutual fund folio for this scheme himself. Investing in this fund can yield more than 10% return in the last one year.
In this fund, you can invest at least 65 to 100% of your capital in equity exchanged traded funds (ETFs). At the same time, up to 35 per cent of the investment can be invested in International Equities and 20 per cent in Gold ETFs. It will invest in triple-A rated security to invest in debt funds. At the same time, 10% can be invested in infrastructure investment fund.