BENGALURU: Our children’s future is the one thing that as parents we think the most important and also invest in the most in. But are we concentrating on what will get us the best returns? Surely not. When it comes to their education, saving becomes the top priority. The rapid rise in education costs is well known. As per Assocham, the cost of education has risen over 150 percent in the last 10 years, according to financialexpress.com.

Invest in ULIP (Unit-Linked Insurance Plan) Schemes:

If you are a low risk investor, who does not believe in stock market dependent investment schemes, you can look for ULIP schemes which has low allocation and less ULIP charges. You can expect anything from 4 to 6 percent annualized returns from these ULIP schemes. Don’t get into the trap of insurance agents who promise returns higher than bank fixed deposits/returns which they compare with mutual funds and encourage you to invest in.

Invest in PPF (Public Provident Fund):

Investment in PPF is one of the best way to lock your money for a long term of 15 years. A maximum of 1 Lakh can be invested per annum and you can expect around 8.75 percent of interest rate per annum. Moreover, the tenure or maturity period of this product i.e. 15 years is so very apt in terms of investment for your child’s education or marriage. Another feature of this product is the flexibility in terms of investment.

You can invest as low as 500 every year and also as and when you want. However, there is an investment upper limit of 1.5 lakh for this account.

Read More: 6 Best Ways One Can Save Money While Travelling

FDI in Services Rises 20Percent to $1.46 Bn in First Half of FY16