India is one of the fast developing democracy countries in the world. Moreover, India is the second largest populated country in the world. Crowd in the metropolitan cities like Mumbai, Kolkata, Chennai are constantly increasing due to migrations of people from rural areas. Situation makes the couples get into work after their marriage.
Teaching your kids about value of the money is more important. None of school teach this to your child. For this creating separate bank account and ask them to manage. There are few financial institutions allowing to create bank account for kids (less than 18 year old). Before creating account for your kids, you should well aware about the bank and their policy.
Benefits Of Opening Children Savings Account
1.The savings account for the child helps them to understand the basic banking process. They will understand what is records and deposits at the childhood itself.
2. There is no need to maintain a minimum balance for the children's account. So this will