Currently many banks launched a diverse and innovative products. A variety of new products launched to attract customers to want to save money in the bank. Customer just select the appropriate product and yielding higher.
For those of you who want to save money to fund your children education but not in the instrument of insurance, you can choose a banking product called education savings. This product is offered with a back-up insurance as well but only for a short period of maximum 5 years. So you must save a certain amount every month, to receive interest on savings but without any cuts costs, and if something happens to you as the payer savings then your child as the beneficiary will receive compensation although the numbers are not as big as in the insurance products. And during a certain period has been agreed you can not withdraw your funds.
Therefore if you want to save the results can be calculated with certainty without being cut administrative costs and other costs, the savings in the RESP/education savings may be the right choice for you.