Saving for Children : Through MF schemes

When to start saving for children?
How long to save?
How much to save?

From birth to attaining age 18 is what the MFs tell you about when to start saving. The answer for how long is included in that answer. But how much to save? it depends on one's capacity to save. But saving is important. So set apart a small amout however small it may be and accumulate it till you are ready to buy a MF scheme for your child. One may rely on traditional saving methods for this phase.

The existing MF schemes exclusively for children are:

1. ICICI Prudential Child Care Plan(2001)
2. Magnum Children Benefit Plan(2002)
3. HDFC Children Gift fund(2001)
4. LIC MF Children fund(2001)
5. Principal Career Builder Plan(1998)
6. Tata Young citizen's fund(1995)
7. Templeton Indai CAP Fund(1998)

a. Education

b. Gift

8. UTI Children Career Plan balanced(1993)

9. UTI CCP Advantage fund(2004)

These schemes have varying exit loads, expense ratios and portfolio profiles. Some of them have age restrictions on entry levels and lock-in -periods.

when you plan, surprises are reduced.

happy investing