my child is ten years old i want to keep fixed diposite in her name 5000rupees after 5years how many : Fixed Deposits : RupeeTimes Answers

	Answers Home \| Rupee Times

Ask your Question

Search for questions:

Advanced

Credit Cards

Car Loans

Home Loans

Personal Loan

Education Loans

Fixed Deposits

Savings Accounts

Miscellaneous

Bank ATM Auto Loan Bad credit Loan Recovery Recovery Agents Indian Bank Canara Bank Corporation Bank Loan Calculator credit card fraud HSBC Bank Vijaya Bank Deutsche Bank Credit history Credit score Used car loan Saving Account Fixed Deposit Loan Finance ICICI Bank RBI SBI Disha HDFC ABN Amro CitiBank EMI Calculator Kotak PNB Barclays Home Loan Personal Loan Credit Card Interest rate

Resolved Question:

Show me another
my child is ten years old i want to keep fixed diposite in her name 5000rupees after 5years how many
In Fixed Deposits - Asked by Rafco - 1 month ago
Best Answer: You can fixed deposit on behalf of your child. You or anybody you want to be her guardian will be responsible until the child attains the age of 18 or as per bank rule. You can calculate the interest using Fixed Deposit Interest Income Calculator . The calculator is given on rupeetimes.com. To know which bank is offering Best FD rates visit rupeetimes.com. 1 month ago - By Simi

Other Answers (3)	show:
Answer 1. It will be 7346/-. However, I fail to understand what financial security can be provided to a girl child with this paltryamount. People think that just by investing in a child's name, they have fulfilled their reponsibility. I am sorry but this is not the way to secure a child's future. Investments are to be made according to the tenure/period avaible to achieve a particular goal. This will let you know, what rate of returns is required for that particular goal. Then to achieve that rate of return what are the good investment avenues. Short term requirement can be taken care of by investing in debt instruments like liquid funds, income funds, FDs, etc. Long term requirements with equities/equity mutual funds, etc. If you can afford to reach your target by investing in debt, its fine. OK. Suppose you need Rs. 10 lacs for you child say after 10 years for higher education, then..... - At 8% you need to invest 5500/- per month. If taxation (30%) is considered, then you need to invest 6300/- per month to reach the target. OR - At 14% you need to invest just 3800/- per month !! 1 month ago - By Atul Mishra
Answer 2. It is better to invest some amount in child name it secures his/her future and the amount can be used for various purposes. 1 month ago - By Bebo
Answer 3. You must invest with nationalized bank it is safe. The FD interest income is taxable after maturity if the amount is coming in range of tax you can break the amount and invest. 1 month ago - By Jonty

Answer: Open Questions

I want to place FDs in Banks @8-9%maturing every month from 2015 upto 2025.Is it possible

I HAVE AN IDEA MAKING A FIXED DEPOSIT OF RS 50000 IN CITI BANK FOR A DURATION OF 6 MONTHS.

I retired from govt service by 28th Feb 2010. Kindly advise me how to grow my money with safe Thiru

DEPOSITED Rs 10 LAKHS IN 2008 MARCH AND Rs1 LAKH IN 2009 AMOUNT RECEIVED =1449725. WHAT IS THE ROI?

View All

Discover: Resolved Questions

invest 50000 rs in FD's?

i want to invest 1 cr in FD. How should i save tax and what is the best percentage i can get?

which bank is offering 8.25% rate of interest on fixed deposit u/s 80c i,e tax saver scheme.

when state bank of india increased fixed deposit rates

sir i have fdr in bank.taking monthly interest.now interest are become down.give me suggestion to me to get more interest and also suggest where i have secure to invest the money.

View All

Vote: Undecided Questions

What is the best option to invest money?

My name is Titabhai K.Katara.I want to know my address at the time of issue PAN

View All

COMPARE RATES

Get best FD rates

Best FD rates by banks

Compare Car Loan Rates for a used car

Get best bank for Home Loan

Show All...

COMPARE QUICKLY

Select a product:

CALCULATORS

Fixed Deposit Interest Income Calculator

Credit Card Balance Transfer Savings Calculator

Car Loan Amount by EMI Calculator

Car Loan Amount by Down Payment Calculator

More Calculators...

CALCULATE QUICKLY

Select a product:

NEWS THIS WEEK

•	New directive for banking licenses to come up in 3 months: RBI Mar 19, 2010
•	Deposit rates hiked by Indian Overseas Bank Mar 18, 2010
•	16% credit target of RBI forces banks to lower lending rates Mar 18, 2010
•	Base rate system may sweep priority sector crowd towards commercial papers Mar 17, 2010
•	SBI stands out as chart topper in list of advance taxpayers this year Mar 17, 2010

News Archive

EDITORS' PICKS

	Fixed deposits in India: Benefits,...
	Carnival of Indian Personal Finance Blogs #1
	Carnival of Indian Personal Finance Blogs #3
	J&K Bank raises PLR
	Fetch higher interest rate on your savings...