As per the research findings most loans are utilized towards meeting expenses of the children’s education. Likewise, most parents generally save or invest in securities either for children’s education or for building assets for the children. Since children are the central focus for everything that parents do, the “Children’s Education Deposit scheme” is introduced to help the parents particularly in meeting educational expenses of their children.
This scheme is both for individuals as well as corporate entities. For individuals the target customers are middle age groups, house wives, those nearing retirement age and retirees who wish to get steady income on a regular basis to meet their day to day expenses. For corporate or non personal entities the target customers are those wishing to keep in the custody of the banks their surplus fund but require steady incomes on a regular basis for their day to day operations such payment of salaries, utilities bill payments, rents.