Children’s education costs are increasing rapidly. In such a situation, if you plan early for your child’s education, you will easily save money.
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You can invest in your child’s education by opening a SIP or RD at a post office. You can get high returns in SIP.
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Now the question is, if you want to deposit Rs 10 lakh in 5 years, how much SIP should be done?
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We tell you that to accumulate Rs 10 lakh in 5 years, you have to deposit Rs 12,123 per month.
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On this you will get an annual return of 12%, thus you will easily deposit Rs 10 lakh in 5 years.
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This amount can easily increase as mutual funds can give higher returns in the long run.
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Next: If you do an FD of ₹2 lakh for 15-18 months in HDFC Bank today, how much return will you get?
