One can easily invest in mutual funds in the name of a child below the age of 18 years. An investment in the name of children can be a better gift than toys, clothes and money. The gifts like toys and clothes have a shelf life and the value of such goods will decrease with time. But the investment made in your child’s name will make him/her earn money. Parents can invest themselves and give the name of the children as the nominee. But whenever parents invest on their own name, then there is a 50-50% chance that they will withdraw that money. But if you invest in the name of your beloved daughter or son, then you will think at least 10 times before breaking that investment.
Mutual Fund Folio Minor can be opened in the name of the child. The child will be the account holder. This folio will not be joint. Because the child below 18 years of age, so this investment will be done by the parent i.e. Minor Through Guardian Investment. Either the birth certificate, passport or school leaving certificate of the child will have to be submitted. The KYC of the parent must be completed and a bank account in the name of the child is also required.
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