Guwahati, Sept. 3 -- Opening a minor bank account can help parents encourage regular saving from an early age. Before choosing an account, it can be useful to estimate how your child's savings may grow. A savings account interest calculator can help parents compare different scenarios using the starting balance, monthly contributions, interest rate and saving period.

Estimating potential growth can help parents set realistic goals and decide how much they may be able to contribute regularly. A calculation can help parents:

Estimate how regular deposits may build over time

Compare different saving scenarios

Set achievable financial goals

Decide how much to contribute regularly

The result is an estimate, not a guarantee, because actua...