It is a great idea to invest for long term for a child. Mutual funds are much better than other avenues for long term growth.
Investing Rs 500 per month over 20 years will fetch you 7.6 lakhs.
However, make sure you invest in Direct Plan Mutual Funds else the commission drain over time will end up losing you about 1.5 lakhs.
Here are some funds for long term growth.
GoI DIPP Registered
Department of Industrial Policy and Promotion Ministry of Commerce and Industry Government of India
View Registration
SEBI Registered
Portfolio Manager
INP2000007881
Non Individual
SEBI Registered Investment Advisor
INA200015583
Non Individual
BSE Membership
52605
AMFI Member
112310
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