top of page

How can I save for a child's education?

Curious about savings

How can I save for a child's education?

Saving for a child's education is a longterm goal that requires proper planning and consistent efforts. Here are some ways to save for your child's education in India:

1. Start early: The earlier you start saving, the more time your investments have to grow. Start planning and saving as soon as possible.

2. Estimate the cost: Calculate the estimated cost of education, including tuition fees, living expenses, and other expenses. This will give you an idea of how much you need to save.

3. Explore education loans: Consider taking an education loan if required. It can help cover the expenses that you can't save for.

4. Choose a suitable investment plan: There are various investment options available like Public Provident Fund (PPF), National Savings Certificate (NSC), Sukanya Samriddhi Yojana, equity funds, and more. Choose a plan that aligns with your risk appetite and financial goals.

5. Make use of tax benefits: There are tax benefits available for investing in some of the investment plans mentioned above. Make sure to research and understand the tax benefits available and claim them.

6. Avoid dipping into savings: Make sure you avoid dipping into your child's education savings for other expenses. Set a separate account for education savings and avoid using it for any other purpose.

Remember, it is important to have a disciplined approach towards saving for your child's education. Consult with a financial advisor if required to make informed decisions.

bottom of page