Eligibility to open account
Minors above the age of 10 years who can read and write will be allowed to open and operate savings bank accounts independently.
Minimum balance
Nil
Cheque Book
2 chq. Books free per year. Minor accounts are not allowed to be overdrawn and these always remain in credit.
ATM Card
Personalised ATM cards with photograph with per day withdrawal and shopping limit of Rs.3000.00 and overall limit of Rs.15000/- in a month.
Net Banking
Per day transaction limit Rs.3000.00 and overall limit of Rs.15000/- in a month.
Rate of interest
3.50% per annum at par with a normal SB account.
Charge for closure of account within 12 months
NIL
Stop payment charges
Free
Standing instruction
Free from Savings account to RD/FD account in his/her name.
Immediate credit of outstation cheque
Upto Rs.25000/- per occasion
Transfer of fund
Free from natural guardian / grandparents accounts.
Nomination
The facility of nomination would be available as per applicable guidelines in case of minor account.
Nomination shall be made by a person lawfully entitled to act on behalf of the minor.
Payment to nominee and legal heirs
In the event of the death of the depositor, the deposit would be paid to the nominee/ legal heirs as per the existing rules.
Proof of age
Birth certificate issued by Panchayat / municipality/ corporations/declaration by natural guardian.
Attaining majority
On attaining majority, the erstwhile minor should confirm the balance in his /her account.
Joint account
Joint account cannot be opened.
Special Offer
- Personalised ATM cards with photograph.
- Net Banking with transaction facility *.
- Minimum balance - NIL
- Cheque Books-2 books free per year.
- Concession in education loan- No processing charge in future education loan
- Attractive passbook
* Initally Net Banking facility will be viewed only and transaction facility will be given in due course.
