If you open an RD account in the post office at the time of the birth of the child, then till the age of 5 years, a substantial amount will be collected in the name of the child, which will be useful for his future.
Child investment plan: In this era of inflation, a lot of expenditure is incurred from raising children to education. Due to paucity of money on the spot, parents have to compromise with the future of their child. If you want to avoid this situation, then know about this scheme of the government, which will give new wings to the flight of your children’s dreams. Also, you will also be able to use these money when needed.
Accounts can be opened at the time of birth, in fact,
here we are talking about the Post Office Recurring Deposit scheme. Under this, guaranteed return plans are available. A parent or a legal guardian can open an RD account at the post office on behalf of the child. In this, the investment matures in 5 years. The interest on this scheme is 5.8 percent per annum and compounding happens every quarter. In this way, if you open an RD account in the post office at the time of the birth of the child, then till the age of 5 years, a substantial amount will be collected in the name of the child, which will be useful for his future.
In this way your child will become rich
under this scheme, how much amount will be in the name of your child, let us understand it through an example. If at the time of the birth of the child, you open his RD account and deposit 2 thousand rupees every month, then in 5 years it will be about 1.40 lakh rupees in his name.
RD account can be opened in this way,
you can open a recurring deposit account in the name of the child by visiting any post office branch. After this, you can deposit in multiples of Rs 10-10. A minimum deposit of Rs 100 has to be made every month. The account can be opened through cash or cheque. On issue of the check, the date of deposit will be considered as the date in which the check is cleared. Not only this, you can close the account if you need money before maturity. However, for this, it is necessary to have deposits in the account for 3 years.
