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Target Group
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Age - 1 Day to 25 Years
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Eligibility
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1 Days to 10 Years (Account shall be opened as a joint account with Parent/Guardian) and Above 10 years and up to 18 years minor self-operated. Above 18 years, major self-operated.
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Nature of Transactions
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Transactions that are savings-oriented in nature are permitted. Commercial transactions are non-allowable transactions. If non-allowable transactions are noticed, then the Branch may close the account with prior notice/intimation citing reasons thereof.
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Minimum Balance
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Rs. 200/- for non-cheque book account holders and Rs. 500/- for cheque book account holders.
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Maximum Balance
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If the account is self - operated, ceiling of Rs. 50,000/- shall be applicable, however, if the account is operated by parents, ceiling of Rs. 50,000/- shall not be insisted. Above 18 years, in major self-operated account, no maximum balance ceiling.
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KYC Requirement
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As Applicable to Normal Savings Bank Account.
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Nature of Operation
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With/Without Cheque Facility.
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Free Cheque Book
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25 Cheque Leaves will be issued free of charge per year, thereafter standard charges will be levied.
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DD
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1 DD Free Per Month for Fees Payment, (Maximum Amount of Rs. 1 lacs).
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Cheque/DD Collection Facility
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Free Collection of Cheque/DD Gifted to the Child upto Rs. 50,000/- Per Annum.
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RTGS/NEFT
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Free NEFT, if Done Online.
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IMPS
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As Per Applicable Charges.
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SMS Banking Charge
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Free
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ATM Debit Card/Type of ATM/Debit Card
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Visa Classic/ Rupay Classic Card (Issued to Parent/guardian) and ATM/Debit Card Eligible for Minors of Age 10 Years or More to Those Who Maintain the Prescribed Minimum Balance and Subject to Consent by Parents / Guardian for Issue of ATM Debit Card. After 18 Years, Customer May Choose Higher Variant Debit Card Subject to Prescribed Minimum Balance Required for the Specific Variant Card.
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ATM Cash Withdrawal Limit
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Rs. 5,000/- Per Day up to 18 Years, Above 18 Years Based on Card Variant.
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ATM POS/Ecom Limit
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Rs. 25,000/- Per Day, Above 18 Years Based on Card Variant.
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Debit Card Charges
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Issue Charge - Free, Annual Maintenance Charge - As Per Applicable Charges
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Insurance Cover on Debit Card
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Rs. 2 Lakhs on Accidental Death of Parent/Guardian Operating the Account (by RuPay). As Per the Terms & Conditions of NPCI, at Present Debit Card Will be Eligible for Rupay Insurance Program Only if it is Being Used in POS/Ecom Transaction Once in 30 Days
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Free Access to Own Bank ATM
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5 Transactions (Financial + Non-Financial) Per Month.
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Free Access to Other Bank ATM
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3 Transactions (Financial + Non-Financial) Per Month at Metro or 5 Transactions (Financial + Non-Financial) Per Month at Other Centres
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Conversion of Account Into Normal SB
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After the Child Attains Majority (18 Years of Age), the Account Can be Converted to Regular SB Deposit.
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Nomination
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Available
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Internet Banking
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Internet Banking Facility Available, Subject to Minimum Age of Account Holder is 10 Years.
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Mobile Banking
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Mobile Banking Facility Available, Subject to Minimum Age of Accountholder is 10 Years.
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Passbook/Statement
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Passbook will be Provided.
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Charges for Non-Maintenance Balance
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As per Regular SB Account
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Sweep in Sweep Out Facility / Flexi Facility
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No Flexi Deposit Facility
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Registration and Execution of Standing Instructions
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Free
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Investment Options
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Sukanya Samridhi: For Girl Child Sukanya Samridhi Can be Opened with us with Standing Instruction for Monthly Credit.
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Recurring Deposit: RD Can be Opened and Funded with a Simple Standing Instruction from this SB Account.
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Systematic Investment Plan: Invest Small Amounts at Regular Interval to Get a Corpus at the Time of Need.
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