I want to open an account in name of my child. Can't open PPF as i don't have pan card. Someone suggested to open flexi RD account. I want to open account in India. Any personal experience please?
I am not having any personal experience regarding this type of account for children but it is sounding good. You can do this just I want to say do a proper research before opening an account.
Nowadays RBI has KYC (Know Your Customer) guidelines for banks. So you might need a PAN number to open an account. If the account is for a minor, then parents need to have an account with KYC details. You can apply for PAN card online from US. There are private agencies that even send your PAN card to you for a fee.
