Can you suggest Mutual funds for education of my son

Considering your age and investment horizon, we presume you can take moderate to high risk. Accordingly, you can invest in a diversified equity fund for your son's education. You can expect a return of around 12% and by investing Rs 8,500 per month, the expected corpus for your son's education could be Rs 20 Lakhs against investment of Rs 10.20 Lakhs. Some of the top performing diversified equity funds are - Birla Sun Life Equity Fund, ICICI Prudential Value Discovery Fund and Franklin India High Growth Companies Fund.

For saving taxes, investing in ELSS Mutual Funds is the best option and here you can choose DSP BlackRock Tax Saver Fund and Reliance Tax Saver Fund.

As you want to invest Rs 12,000 through monthly SIPs for 5 years for construction of a house, you can invest in balanced funds. You can expect 11% return and the corpus could be Rs 9.62 Lakhs after 5 years against your investment of Rs 7.20 Lakhs! Few of the top performing funds are, ICICI Prudential Balanced Fund, HDFC Balanced Fund and DSP BlackRock Balanced Fund.

Hope the above helps! Thanks for writing to Advisorkhoj!