Children saving account is a special saving product designed for parents wishing to open their children’s (Minor) accounts who are aged below 18 Years. This product is designed to encourage saving habits among parents for the future assistance of their children providing them with the benefits of banking services.
*Please note that 6% tax shall be applicable as per current tax policy.
Minimum Balance - Rs. 0
Interest Rate – 2.76%
Features - Account to be o..View All
Minimum Balance - Rs. 100
Interest Rate – 2.75%
Features - Visa Debit card..View All
Minimum Balance - Rs. 5,000
Interest Rate – 2.75%
Features - Issuance and Re..View All
Minimum Balance - Rs. 0
Interest Rate – 2.75%
Features - Free Cheque Boo..View All
Minimum Balance - Rs. 0
Interest Rate – 2.75%
Features - Freestanding fa..View All
Minimum Balance - Rs. 100
Interest Rate – 2.75%
Features - Payment through..View All
Minimum Balance - Rs. 0
Interest Rate – 2.76%
Features - A “piggy bank”..View All
Minimum Balance - Rs. 0
Interest Rate – 3.5%
Features - NO issuance of..View All
Minimum Balance - Rs. 100
Interest Rate – 2.75%
Features - Cheque Book: Fr..View All
Minimum Balance - Rs. 0
Interest Rate – 2.75%
Features - This is a perso..View All
Minimum Balance - Rs. 5,000
Interest Rate – 2.76%
Features - Debit Card: EMV..View All
Minimum Balance - Rs. 0
Interest Rate – 2.75%
Features - Free Cheque Boo..View All
Minimum Balance - Rs. 500
Interest Rate – 2.75%
Features - Debit card: As..View All
Minimum Balance - Rs. 100
Interest Rate – 2.76%
Features - Free Cheque Boo..View All
Minimum Balance - Rs. 501
Interest Rate – 2.79%
Features - Accounts for ch..View All
Minimum Balance - Rs. 1,000
Interest Rate – 2.75%
Features - Competitive Int..View All
Minimum Balance - Rs. 0
Interest Rate – 3.67%
No features available
Minimum Balance - Rs. 0
Interest Rate – 2.75%
No features available
Minimum Balance - Rs. 0
Interest Rate – 2.8%
No features available
Minimum Balance - Rs. 0
Interest Rate – 2.75%
Features - Any branch bank..View All
Minimum Balance - Rs. 0
Interest Rate – 2.75%
Features - Interest paymen..View All
Minimum Balance - Rs. 100
Interest Rate – 2.75%
Features - Minimum 18 year..View All
Minimum Balance - Rs. 0
Interest Rate – 2.75%
No features available
Minimum Balance - Rs. 100
Interest Rate – 2.75%
Features - Free Mobile Ban..View All
Minimum Balance - Rs. 100
Interest Rate – 2.75%
Features - Free ABBS Facil..View All
A children's savings account is a specially designed bank account intended for minors, typically those under the age of 18. It serves as a platform for parents or guardians to save money for their child's future needs or to teach the child about financial responsibility.
Yes, parents or legal guardians are typically the ones who open and manage children's savings accounts on behalf of the minor. They have control over the account until the child reaches a specified age, at which point the child may gain control or ownership.
The level of independence a child has with their savings account depends on the bank's policies. In many cases, parental or guardian supervision is required until the child reaches a certain age, at which point they may gain more control over the account.
Yes, many banks offer the option to convert a children's savings account into a standard savings account when the child reaches the age of majority. This transition allows the account holder to have full control over their finances.
