Question

Case Study 2
A. A grandfather wants to open a savings Bank Account in the names of his Grandchild (aged
6 years) and himself. How would you deal in this case?​

Answer 1

Answer:

A grandparent can open a savings account for their grandchild in the child's name as long as they have documentation, such as the child's birth certificate. ... An advantage for grandparents is that no amount of interest earned on money they put in is subject to tax

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