Mutual Fund Investment Tips: Mutual funds have always been a better investment option for those who want to get better returns with less risk. But, there is a risk in this investment, so without the right information, people may have to bear a big loss. Therefore, it is very important to take proper mutual fund information before investing in it. In the last few years, people’s interest has increased due to the benefits of investing in mutual funds. If invested properly, it can be a very profitable deal. But, do you know that your child can also invest in mutual funds.
In this way children can invest in Mutual Fund (Tips for Investment of Children in Mutual Fund)-
With this investment, children can also get to know about saving options and money management. The special thing is that even children below 18 years of age will now be able to invest in it. But, to do this, children have to take the help of parents. This investment is done in the name of the child only but, it is fully looked after by the parents. Along with this, this investment cannot be done without the parent’s sign. This entire process takes place till the child turns 18 years old. Along with this, the income tax has to be paid by the parents only when there is income in investment.
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To invest in mutual funds, you have to do this work-
Proof of the relationship between the child and the parent has to be given.
Along with this, age proof of parents.
After this the parents will have to get KYC done.
After this, the KYC of the child will be done when the child turns 18.
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This work will have to be done when the child is 18 years old-
When the child turns 18, you only have to change his status to adult. After this information will have to be given to the fund house. Let us tell you that there are many special plans for children’s investment in mutual funds. The name of these plans is ‘Hybrid’ or ‘Child Care Plan’ or ‘Children Gift Fund’. Through these plans, children can easily invest in mutual funds.
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