Where can i invest as a student? Akhilesh B, 14 Sep 2012

I am a student and i get pocket money of around 1000 a month.I want to know where can I invest my pocket money savings? Are there any investment plans?

Fintotal Answer

Great thought ! Thats a very good habit that you are planning to inculcate early. Reliance Mutual Fund offers you an opportunity to invest in its mutual fund, through a SIP, for an amount as low as Rs. 100/per month (and multiples thereof). For all other mutual funds in India the minimum amount is rs 500/ monthly and minimum of Rs. 1000 upfront. You can also look at depositing it in bank recurring deposits, you will require to open the account with minimum amount of Rs. 1,000/- and subsequent deposits in multiples of Rs.100/-. This facility is available in most nationalized banks. You can also consider a post office recurring deposit which has a fixed deposit rate of 7.5% and a maturity period of 5 years and can be opened with an amount as low as Rs 10 per month at any post office We recommend you invest in mutual fund as in long term it can give excellent returns. All the best for your investing life!

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