Top Child Money Saving Plan In India So That You Never Have To Worry About The Financial Future Of Your Kid


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Are you a middle-class Indian worried about the future of your child? Are you a parent who wants to give a good life to your children even though you are not rich? Does the tension of your child’s education worry you? Then a Child money-saving plan is the best option for you. The major expense of the average Indian household is growing at a very fast clip. Especially when it comes to higher education, it is rising at 10-12 percent a year in India, and it is one of the biggest cash outflows for families.

Child money-saving plans were not very important because earlier generations had it easy. At that point, Competition was low, and therefore the fee in government institutions was modest. Planning for a child’s future is not an easy task, and a plethora of options might confuse you. So below, we are here to help you with the best Child money-saving plan.

Top Three Child Money Saving Plan 

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PDF Child Money Saving Plan 

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An A15-year scheme is the best Child money-saving plan to invest in for several reasons. You can build a corpus for your child’s education. The interest rate is 8 percent that is 0.5 percent more than other banks. Another reason to choose this Child money-saving plan is with or without making any further contribution, and the corpus will continue to earn interest until the account is closed.

State Bank Of India Sbi Life Smart Scholar Child Money Saving Plan 

The non-participating Unit-Linked Insurance Plan ensures double protection for your family in case you are not there. In this Child, a money-saving plan payment of the basic sum is insured, and an integrated premium indemnity guarantees the continuation of your policy. This Child money-saving plan is valid for kids between 0-17 years of age. In case unfortunate, the amount payable is lump sum benefit equal to the greater of the sum insured or 105% of all premiums paid.

Sbi Smart Champ Insurance Plan

It is an unbound participating individual life insurance plan formulated to protect your child’s future educational needs. The child money-saving plan benefits are payable during the term of the policy and also give insurance coverage to the applicant. It is like insuring your kid for life and to the policyholder in the event of death a. In addition, the smart benefits of this child’s money-saving plan are payable in four equal installments after the child turns 18 years of age.

Conclusion

As a parent, you will always wish to give the best future to your children. It is quite a demanding task with the rising inflation and changing lifestyle. The cost of housing, fuel, clothing, and common foods like pulses, vegetables everything is increasing day by day. A child’s money-saving plan is a great option to deal with the struggles of life a child will face in the future. The rising inflation costs may make it very complex for the coming generations, and By planning and investing your money smartly, you can make things better. So select the best Child money-saving plan from the above list.

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