New Delhi, Sept. 18 -- SBI Mutual Fund on Tuesday launched a new fund offer (NFO), SBI Children's Benefit Fund - Investment Option, which is a solution-oriented fund aimed at parents who want to invest for their children-related goals.
The fund house already has a similar product, which is more conservative. We tell you what is the new product, how does it differ from the existing one and should you go for it.
What does it offer? The fund will have a lock-in of five years or until the child attains the age of 18, whichever is earlier. So, if the investment is made when the child is 17 years old, it will be locked in for one year. There is no maximum holding period and the child can hold on to the scheme as long as she likes. Investment ca...