Savings account especially designed for minors inorder to inculcate the saving habits and make them financially literate. Parents or Guardians can open and operate the account to secure the future of their children.
Features :
Account for children aged 10 years and above but below 18 years.
Concession on Issuance of ATM cum Debit Card.
Free SMS/Mobile Banking & Internet Banking services (Alerts & Enquiry Rights only).
Free Standing Instruction to transfer balance from parents/guardian account to Karnadhaar Bachat Khata.
Maximum permitted account balance is Rs.5 Lakhs.
Account can be operated by the minor independently. However, account opening and closing will be done by the parents/guardian on behalf of minor and signature of Parents/Guardian is mandatory in all the application form.
No Cheque Book facility. However, withdrawal slip will be provided to withdraw cash maximum upto Rs. 40,000 per day (Minor to be self present in the Bank to affix his/her signature).
On minor attaining majority, Karnadhaar Bachat Khata will be transferred to Saral Bachat Khata.
