I want to invest Rs 50,000 for my 3-year-old daughter. I have heard about banks that double your money in 5-6 years. Can you tell more about such banks? -Shyam
We are not aware of any banks or bank schemes that will double your money in 5-6 years. Since you're investing for the future of your daughter, the timeframe would be around 15 years, which is why we would suggest that you put the money in a well-performing balanced fund that will provide good, stable returns.