Minor Savings Account
For the apple of your eye
Teach your children the basics of banking and make sure to give them a comfortable and secure future. Start investing and saving early for your children and empower your children financially.
Enjoy the flexibility to use the savings without worrying about maintaining a minimum balance. We believe that a financially literate young generation goes on to achieve financial empowerment. We applaud your choice to encourage your children to start saving early!
Our Minor Savings Account is the perfect start to their banking journey. This account can be opened for children in the age group of 1 day to 18 years on the availability of necessary documents. You can start an account for your child, which is held jointly by you. With access to savings through a Debit Card (on request for children above 10 years only), you can guide your child’s transactions until the age of 18.
Features
No average monthly balance criteria
No charges on non-maintenance of minimum balance
An account can be opened jointly with the guardian only
Operated by the parent/guardian until the minor becomes a major
Can be converted into a regular savings account when your child turns into a major (18 Years)
Provision of Debit card for minors above 10 years (upon request)
Features
No average monthly balance criteria
No charges on non-maintenance of minimum balance
An account can be opened jointly with the guardian only
Operated by the parent/guardian until the minor becomes a major
Can be converted into a regular savings account when your child turns into a major (18 Years)
Provision of Debit card for minors above 10 years (upon request)
Transaction Facilities
Channel Access
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5 free transactions per month at any other bank’s ATM
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Speak to our 24*7 phone banking services in your preferred language at 1800 208 2121
Rate Of Interest
For Rate of Interest, please click here.
Interest is calculated daily (on the end-of-the-day) balances
Interest is credited to your account at the end of every quarter
Supercharge your savings! Earn up to 7.50% p.a. interest with our Digital Savings Account!
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