Wanted to secure your girl child’s future? Then this article is for you. Nowadays, fixed deposits are considered a better option for savings. Through this, you can also secure the future of your children. There are many banks that are currently offering special FD schemes for children. Good interest is also offered.
Compared to regular FDs, these FD schemes also offer the benefit of many facilities. Many big banks, including SBI, PNB, and HDFC Bank, are included in this list. Parents can invest in fixed deposits in the name of their children. So that there is no financial trouble at the time of need. There is no need to invest in these schemes again and again.
SBI FD for Children
The State Bank of India is offering special FD schemes for children. In which the minimum investment is 1000 rupees. There is no maximum investment limit. However, if you invest more than Rs 2 crore, it will be called a bulk deposit. It gets 3% to 7.10% interest. The bank is offering a minimum tenure of 6 months and a maximum of 10 years.
Yes, Bank FD
Private sector Yes, Bank is also running an FD scheme for children. In which you get a tenure of 7 days to 10 years. The interest rate ranges from 3.25% to 7.50%. The minimum investment limit is Rs 10,000. There is no maximum limit.
PNB Special FD Scheme for Kids
Punjab National Bank is also running a special FD scheme for children, named “PNB Uttam Non-Colable Term Deposit Scheme.” Even 10-year-olds can take advantage of this. The investment range is Rs 15 lakh to Rs 10 crore. Tenure is available from 91 days to 10 years.
Canara Bank Special FD
Public sector Canara Bank also runs a special fixed deposit scheme for children. In which you can invest at least 1000 rupees. Under the scheme, the bank offers tenure ranging from 7 days to 10 years. The interest rate ranges from 3.25 percent to 7.15%.
HDFC Bank
The country’s largest private bank is also running a special scheme called “HDFC Bank Kids Advantage Account.” If the balance in the savings account is Rs 35,000 or more, the amount above Rs 25,000 from the deposit is automatically converted into a fixed deposit. The tenure is 1 year and 1 day.