Savings Bank Account for child - 5 years old
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Kindly advise which bank should I open my child’s (5 years old) saving account. Any recommendation with benefits and comparison will be really helpful.
Thank you in advance.
(Purpose of opening the bank account is investing in FDs and investing in Mutual Funds via Zerodha)
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https://www.desidime.com/comments/permalink/10498716
do you use Fyers I have it but I am not sure how good is it compared to Zerodha. They recently started quick trading.
https://www.desidime.com/comments/permalink/10498609
If its a girl child, make sure to select a bank that offers Sukanya Samriddhi Acct and has easy online transfer option.
https://www.desidime.com/comments/permalink/10498651
topic https://desidime.com/last_comment?topic_id=1879891 and https://desidime.com/last_comment?topic_id=1879892 need to be spliced together under either one of them.
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Child bank account: IFDC First bank with superior FD rates.
If you are ok with Zerodha - annual charges are around 290: Else open Fyers account with Zero AMC.
You cannot invest directly - first you need to purchase -> Second -> Gift the MF / Stock to your child.
PS: Apply PAN card for your child and make use of it.