My niece is a spender and I want to give her a monetary gift that she can save when she reaches college. Is there a way I can deposit my gift to her to CD under her name?
2006-09-28 07:33:24 · 5 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
YES, you can deposit it in any form of investment account with a delay in it -- CDs, Bonds, whatever -- make the term as long as possible so that she can NOT remove the money before the term is up.
2006-09-28 08:29:12 · answer #1 · answered by sglmom 7 · 0⤊ 0⤋
Yes if the CD is solely in her name but she can cash it out immediately by cancelling the CD with the institution even it has a term date. She only loose out on the interest and administration fee before maturity.
2006-09-28 14:40:40 · answer #2 · answered by Roti-Prata 3 · 0⤊ 0⤋
Yes it's a lovely thought
2006-09-28 14:56:19 · answer #3 · answered by momie_2bee 5 · 0⤊ 0⤋
Yes, its the thought that counts
By: vanburenandrew@yahoo.com
2006-09-28 14:34:59 · answer #4 · answered by Andrew V 1 · 0⤊ 0⤋
sure,,,,,its the gift that keeps on giving.
2006-09-28 14:50:37 · answer #5 · answered by Anonymous · 0⤊ 0⤋