Kindly show the way to deposit amount for my kid future?

If you invest at 8% p.a compound interest your money will become 2.15 times your investment in 10 years.This is a current bank/P.O/cumulative deposit rate in India.Normally banks pay less on long term deposits.I suggest you take fixed deposit for one year and renew it every year.There is tax deduction at source unless you submit form 15G or 15H.

Hmm.. unless its speculative market.. you may not get triple for an investment in 10 years.. If you want a safe return and with a better tax savings.. you can prefer puplic provident fund (8.7%rate of interest and loan available after 3 years @ 1%p.a) and any government bonds like NHAI

Fixed deposits,Public Provident Funds and insurance policies are great option to choose from.According to a survey 63% of parents start saving for their kids right after their kids born.

The best plan is to start a 529 plan in your state.

http://www.ehow.com/how_7481923_select-529-plan.ht...

Asking for a double or a triple in 10 years is just a little

to much to expect in return. But maybe it could happen.

Good Luck

Some other ways are to start other streams of income. Here is one legitimate way.

http://https//www.paypal-prepaid.com/prepaid-debit...

I would keep them stay in my bag.