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Child Plans for New Born Baby -New Born Baby

If you’re a new parent up to your eyes in diapers, chances are you may also be overrun with checks and cash from family and friends welcoming the baby to the world.

Assuming you don’t need the cash for necessities like strollers and formula, it’s a good idea to put the money aside for your child in a safe place where it can mature—but which saving vehicles are best? We have listed you the best investment options for your new born babies and will help you to take the first step towards a safe and secure future planning.

Child Plans for New Born Baby -New Born Baby

The best Child Investment Plan for a New Born Baby in India.

Gold - but gold at your convenience and convert into Gold Bonds nearby Banks as per Government announcement. It's good to have a Gold savings scheme for a Girl Child in India. Never pledge the Gold for any reason. It's her purpose only.

Post Office PF account or other checks with them which give high returns, Monthly savings a fixed amount in your daughter's namesake. Don't touch it at any given time for any reason. It's for her. Utilise for her education, gold and property purposes. Never do any business with the amount.

If you are able to Trade in Stock Market - Start accumulating a few selective Shares like Titan, TBZ, MRF, Bosch, Reliance, ITC, HUL, Pidilite, Emami, Jubilant Food, Wipro, Maruthi, L&T, Biocon, in A Group of BSE and NSE Nifty shares.

Go for Home Loan - take 30 to 35 years maximum EMI but in the middle repay a higher amount possible and reduce the period. The home is for your daughter's purpose.

Last, you can go for a Life Insurance Policy for your daughter's purpose and any Mutual Fund - SIP (month by month savings) program.

So, if you are not sure how to invest for your child, here are some things we hope will give you a little inspiration:

A good education
An investment in talent
A gap year
The big occasion
Family holidays
Sunny day fund and lastly,
The investment portfolio to help you achieve your goals.

Conclusion

While these accounts have the advantage of allowing you to contribute and withdraw money whenever you want, any interest earned is liable for the tax. If you're able to commit to making monthly contributions, then you can often benefit from higher rates of interest with a regular savings account. 

Also Read: 

Tips For Building Child’s Overseas Education Corpus

Child Insurance Plans - Canara Bank

Disclaimer

This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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