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Published by on Thursday, June 17, 2010 at 8:56:00 PM

Give your newborn child RS. 1500000 when he riches 18

Recurring Bank Deposits - Congratulations for having the child the future of your generation, the Light of your house, so you got a first child after your marriage this is the happiest day to the father and then the mother, then the grand parents and to all relatives of you.

Friends, it is known to all of us that we get marries when we have a good job and earning to live a life, if we are not rich.

So, what will the future planning’s for our child for his future, we can manage anyhow in his child hood, for his food, clothing, school etc. The hard time comes when he rich the age eighteen and when he goes to higher education.

So I have a small plan, by which every one can generate a basic amount of Rs. 1500000 at the time when our child actually needs it in the age 18.

A small and smart investment plan, we have to just open a pigmy cum recurring deposit account in any nationalized banks, where we have to just deposit Rs. 100 daily, which can generate Rs. 1500000 at the maturity period of 18 years.

So you may be thinking how it happens, yes it is possible, if you get a correct bank, which pays 8% interest on recurring deposits. You can do it easily.

Say if you start depositing the amount Rs. 100 daily to your pigmy account and after completing the month you just have to transfer it to your recurring account, It comes to Rs 3000/- per month, if you do it on regular basic without fail, if the bank calculates it @ 8% per annum on your recurring deposit, it can generate up to 1500000/- on average in 216 months, that is in 18 years time.

So what you are waiting for contact your nearest bank and get the details for it , check out which nationalized banks has the pigmy recurring deposit account facility and start your journey to make your child rich.

This is just an example you can generate more amount as per your need. I am doing this and like to get response and better ideas if you have with you.

Thanks and happy banking for bright future.
Published by IzajAhmed Shaikh.
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ME AS AUTHOR

I am, Mr. IzajAhmed Shaikh, a Computer Professional and a Pro. Blogger, who belongs to Shahabad, Karnataka India. My basic Qualifications are B.Sc., and M.C.M. done from University of Pune., formerly known as, Poona University,. I like to write articles based on my personal experiences.

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