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New Bank for 18-Year Old: Best Options?

Milind

Milind Vadjikar  |1123 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Mar 04, 2025

Milind Vadjikar is an independent MF distributor registered with Association of Mutual Funds in India (AMFI) and a retirement financial planning advisor registered with Pension Fund Regulatory and Development Authority (PFRDA).
He has a mechanical engineering degree from Government Engineering College, Sambhajinagar, and an MBA in international business from the Symbiosis Institute of Business Management, Pune.
With over 16 years of experience in stock investments, and over six year experience in investment guidance and support, he believes that balanced asset allocation and goal-focused disciplined investing is the key to achieving investor goals.... more
Asked by Anonymous - Mar 03, 2025Hindi
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Money

My son has attained 18 years of age. Though he has a Bank account in one of the co-op Bank, Please suggest name of nationalised or private Bank in which he should open a savings account taking into consideration that he will not have to maintain AQB, will have less charges, will have online facility, must be able to link to phonepay and most important his scholarship should be directly credited to his account?

Ans: Hello;

You may consider opening account for your major son in SBI, BOB, PNB or Canara Bank.

Best wishes;
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
Money

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Ramalingam

Ramalingam Kalirajan  |8146 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 23, 2024

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Dear Sir, My son is in 7th grade and I want to save 15 lakhs when he completes his 12th grade for his higher education. Pls advise best investment options for this. How much should I save every month and in which funds. Regards
Ans: planning for your child's education is a heartfelt commitment. Here’s a tailored strategy for you:

Investment Horizon: You have approximately 5 years to reach your goal. This is a medium-term horizon, and considering this, a balanced approach is advisable.
Monthly Savings: To accumulate 15 lakhs in 5 years, you would need to save around 25,000 per month, assuming an annual return of 10%. This is a ballpark figure and can vary based on market conditions and fund performance.
Investment Options:
Equity Mutual Funds: Given the 5-year horizon, equity funds can offer potentially higher returns. Opt for a mix of large-cap, mid-cap, and multi-cap funds to diversify and spread risk.
Debt Mutual Funds: To add stability to your portfolio, consider allocating a portion to debt funds or fixed-income instruments.
Tax Efficiency: Look for tax-saving mutual funds under Section 80C if you haven’t exhausted the limit. This can provide tax benefits and align with your investment goal.
Asset Allocation:
Equity: 60-70% for growth potential.
Debt: 30-40% for stability and capital preservation.
Review & Adjust: Periodically review your investments to ensure they are on track to meet your goal. If needed, adjust your investments based on performance and market conditions.
Education Inflation: Keep in mind the inflation rate for education expenses, which tends to be higher than general inflation. Adjust your savings goal periodically to account for this.
Emergency Fund: While saving for your child's education, ensure you have an emergency fund to cover unexpected expenses. This will prevent you from dipping into your education savings.
Remember, the key to achieving your goal is disciplined saving, informed investing, and regular monitoring. Your dedication to your son’s education is commendable, and with prudent planning, you can certainly realize this dream. Best wishes for your savings journey!

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Anu

Anu Krishna  |1571 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Mar 25, 2025

Anu

Anu Krishna  |1571 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Mar 25, 2025

Asked by Anonymous - Mar 19, 2025Hindi
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Relationship
Hi. I'm 45 years married 16 years with 2 kids . In short my wife has anger issues . She gets annoyed if anything happens against her wish. No one in family can talk to her. She dosen't want to listen anyone's advice or opinion. I work 7 days a week to financially support my family. Also help her in kitchen and household works, Buy groceries. She still complains and get angry. Her behavior becomes rude wherever my parents visit us. She hides all the food or not to buy. I aways tried to calm and relax her to keep our relationship happy. There are months passes without sex She still complain I'm doing nothing for family. I love her and my kids so keep on tolerating. I tried to talk to her but she never cared and told if i wush can leave her as I'm selfish. I need your advice and opinion to bring my meaningful
Ans: Dear Anonymous,
Well, if only she could appreciate all your efforts towards the family and her. But you know what; what she could be missing is the emotional connection with you especially when you work 7 days a week...it leaves you very little time with the family or for her. This can cause a lack within your relationship. Is it possible for you take a day off so that you have time for yourself and your family? It maybe the same job or something else. I know that changes are hard to make BUT at the end of the day, relationships especially the core ones matter the most, don't they?
This change can definitely put things back together and give your wife the opportunity to be with you and appreciate you even more...

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

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Nayagam P

Nayagam P P  |4377 Answers  |Ask -

Career Counsellor - Answered on Mar 25, 2025

Asked by Anonymous - Mar 24, 2025Hindi
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Career
I got 97.75%ile in jee mains with obc ncl category is it sufficient for nit Hamirpur cse seat?
Ans: Here is, How to Calculate Your Rank, based on your JEE Percentile & How To Predict Your Chances of Admission into NIT or IIIT or GFTI After JEE Main Results – A Step-by-Step Guide

Once the January JEE Main session results was declared, many students and JEE applicants started asking common questions about eligibility for specific institutes (NITs, IIITs, GFTIs, etc.) based on their percentile, category, preferred branch, and home state.

Providing precise admission chances for each student can be challenging. Some reputed educational websites offer ‘College Predictor’ tools where you can check possible college options based on your percentile, category, and preferences. However, for a more accurate understanding, here’s a simple yet effective 9-step method using JoSAA’s past-year opening and closing ranks. This approach gives you a fair estimate (though not 100% exact) of your admission chances based on the previous year’s data.

Step-by-Step Guide to Check Your Admission Chances Using JoSAA Data
Step 1: Collect Your Key Details
Before starting, note down the following details:

Your JEE Main percentile (Convert your percentile into All India Rank with the help of a formula available in Google).
Your category (General-Open, SC, ST, OBC-NCL, EWS, PwD categories)
Preferred institute types (NIT, IIIT, GFTI)
Preferred locations (or if you're open to any location in India)
List of at least 3 preferred academic programs (branches) as backups (instead of relying on just one option)
Step 2: Access JoSAA’s Official Opening & Closing Ranks
Go to Google and type: JoSAA Opening & Closing Ranks 2024
Click on the first search result (official JoSAA website).
You will land directly on JoSAA’s portal, where you can enter your details to check past-year cutoffs.
Step 3: Select the Round Number
JoSAA conducts five rounds of counseling.
For a safer estimate, choose Round 4, as most admissions are settled by this round.
Step 4: Choose the Institute Type
Select NIT, IIIT, or GFTI, depending on your preference.
If you are open to all types of institutes, check them one by one instead of selecting all at once.
Step 5: Select the Institute Name (Based on Location)
It is recommended to check institutes one by one, based on your preferred locations.
Avoid selecting ‘ALL’ at once, as it may create confusion.
Step 6: Select Your Preferred Academic Program (Branch)
Enter the branches you are interested in, one at a time, in your preferred order.
Step 7: Submit and Analyze Results
After selecting the relevant details, click the ‘SUBMIT’ button.
The system will display Opening & Closing Ranks of the selected institute and branch for different categories.
Step 8: Note Down the Opening & Closing Ranks
Maintain a notebook or diary to record the Opening & Closing Ranks for each institute and branch you are interested in.
This will serve as a quick reference during JoSAA counseling.
Step 9: Adjust Your Expectations on a Safer Side
Since Opening & Closing Ranks fluctuate slightly each year, always adjust the numbers for safety.
Example Calculation:
If the Opening & Closing Ranks for NIT Delhi | Mechanical Engineering | OPEN Category show 8622 & 26186 (for Home State), consider adjusting them to 8300 & 23000 (on a safer side).
If the Female Category rank is 34334 & 36212, adjust it to 31000 & 33000.
Follow this approach for Other State candidates Option also and different categories.
Pro Tip: Adjust your expected rank slightly lower than the previous year's cutoffs for realistic expectations during JoSAA counseling.

If and whenever time permits, watch 180+ EduJob360 YouTube Videos on 'Jobs | Careers | Education'.

Hope this guide helps! All the best for your admissions!

Follow RediffGURUS to Know more on 'Careers | Health | Money | Relationships'.

...Read more

Nayagam P

Nayagam P P  |4377 Answers  |Ask -

Career Counsellor - Answered on Mar 25, 2025

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Hello sir. I got 90.87 percentile in JEE mains 2025. I belong to obc category and gender male. Can I get COEP , Pune? Low branch would also be okay or can I get nit Agartala??
Ans: Pushkar, Here is, How to Calculate Your Rank, based on your JEE Percentile & How To Predict Your Chances of Admission into NIT or IIIT or GFTI After JEE Main Results – A Step-by-Step Guide

Once the January JEE Main session results was declared, many students and JEE applicants started asking common questions about eligibility for specific institutes (NITs, IIITs, GFTIs, etc.) based on their percentile, category, preferred branch, and home state.

Providing precise admission chances for each student can be challenging. Some reputed educational websites offer ‘College Predictor’ tools where you can check possible college options based on your percentile, category, and preferences. However, for a more accurate understanding, here’s a simple yet effective 9-step method using JoSAA’s past-year opening and closing ranks. This approach gives you a fair estimate (though not 100% exact) of your admission chances based on the previous year’s data.

Step-by-Step Guide to Check Your Admission Chances Using JoSAA Data
Step 1: Collect Your Key Details
Before starting, note down the following details:

Your JEE Main percentile (Convert your percentile into All India Rank with the help of a formula available in Google).
Your category (General-Open, SC, ST, OBC-NCL, EWS, PwD categories)
Preferred institute types (NIT, IIIT, GFTI)
Preferred locations (or if you're open to any location in India)
List of at least 3 preferred academic programs (branches) as backups (instead of relying on just one option)
Step 2: Access JoSAA’s Official Opening & Closing Ranks
Go to Google and type: JoSAA Opening & Closing Ranks 2024
Click on the first search result (official JoSAA website).
You will land directly on JoSAA’s portal, where you can enter your details to check past-year cutoffs.
Step 3: Select the Round Number
JoSAA conducts five rounds of counseling.
For a safer estimate, choose Round 4, as most admissions are settled by this round.
Step 4: Choose the Institute Type
Select NIT, IIIT, or GFTI, depending on your preference.
If you are open to all types of institutes, check them one by one instead of selecting all at once.
Step 5: Select the Institute Name (Based on Location)
It is recommended to check institutes one by one, based on your preferred locations.
Avoid selecting ‘ALL’ at once, as it may create confusion.
Step 6: Select Your Preferred Academic Program (Branch)
Enter the branches you are interested in, one at a time, in your preferred order.
Step 7: Submit and Analyze Results
After selecting the relevant details, click the ‘SUBMIT’ button.
The system will display Opening & Closing Ranks of the selected institute and branch for different categories.
Step 8: Note Down the Opening & Closing Ranks
Maintain a notebook or diary to record the Opening & Closing Ranks for each institute and branch you are interested in.
This will serve as a quick reference during JoSAA counseling.
Step 9: Adjust Your Expectations on a Safer Side
Since Opening & Closing Ranks fluctuate slightly each year, always adjust the numbers for safety.
Example Calculation:
If the Opening & Closing Ranks for NIT Delhi | Mechanical Engineering | OPEN Category show 8622 & 26186 (for Home State), consider adjusting them to 8300 & 23000 (on a safer side).
If the Female Category rank is 34334 & 36212, adjust it to 31000 & 33000.
Follow this approach for Other State candidates Option also and different categories.
Pro Tip: Adjust your expected rank slightly lower than the previous year's cutoffs for realistic expectations during JoSAA counseling.

If and whenever time permits, watch 180+ EduJob360 YouTube Videos on 'Jobs | Careers | Education'.

Hope this guide helps! All the best for your admissions!

Follow RediffGURUS to Know more on 'Careers | Health | Money | Relationships'.

...Read more

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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