can i open on my grad daughter who is on her 8 th year . a]how much will be the return after her 18 yrs if i pay 1000/- pm .?
as a gaurian i can open for her or only natural gaurdian only can do so?
- Yes account can be opened for your granddaughter.
- If Rs 1000/- is deposited every month, on maturity she will receive Rs 5,91,000 assuming current rate of interest. no you cannot open account for her.
- Only her natural gaurdian can open account for her. You can contribute to the account once opened, however you will not be eligible to claim tax exemption on your contribution.