QuestionsCategory: sukanyaeligibilty-for-the-gaurdian
pullaiah asked 7 months ago

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?
 

1 Answers
James Bond Staff answered 7 months ago
  1. Yes account can be opened for your granddaughter. 
  2. 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.
  3. 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.