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Best investment option for child education (ULIP/Mutual Fund)

Hi,
I want to invest one time investment of 40000 – 50000 (or) annual investment of 30000 for my sister’s 1 yr baby girl. Please suggest some good options. I want to show them for my tax savings also (Gift fund).

Note: I want to make my 1st premium / Investment through credit card atleast for this time. I want to buy this month only.

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