An account opened for children in a bank is called a minor account.
SBI Kids Online Account: You can also open your children’s account in the bank. If you learn the habit of saving from now, it will be very important. Today’s parents can also open their children’s bank accounts. This will make it easier for them to get acquainted with the banking system from now on. They can soon be taught to be financially independent. It is very important to have an account with a bank. Any financial benefits are available in the bank account only.
If you want to open your children’s online account then the country’s largest bank, State Bank of India – SBI offers offers for minors in the form of first steps (Pehla Kadam) and first flight (Pehli Udaan) Online facility has been provided for opening a savings account. Which nowadays comes with banking products and will help children to understand buying power. In this account, the limit for children to withdraw money daily has also been fixed so as not to spend more money.
First Account Saving Account in SBI for Minors
– Parents with minor children of any age or can open a Guardian Joint account. It can be operated by parents or guardian or singly.
– Mobile banking facility is available on saving account, in which all types of bills can be paid. It has a limit to transact up to Rs 2,000 daily.
– ATM-debit card facility is also available when a bank account is opened in the name of children. This card will be issued in the name of minor and guardian. It can withdraw up to Rs 5,000.
Internet banking facility is also available in it. There is a limit to transact up to Rs 5,000 daily. With this you can collect all types of bills.
– Check book is also available in which the mobile number of the account holder is entered. This specially designed check is of 10 pages. Which is issued in the name of a minor under the guardian.
– Personal Accident Insurance Cover is also available for parents.
First flight saving account in SBI for minors
– Children above 10 years of age who can sign their own can open a Savings Account under SBI’s first flight (Pehli Udaan).
– This account will be completely in the name of a minor. Only he can operate it alone.
– ATM debit card facility is also available in this and you can withdraw money up to Rs 5000 daily. Along with this, mobile banking facility is also available. In which you can transfer up to Rs 2000 daily. You can also do all kinds of payments with this.
Internet banking facilities are also available and projects can transfer up to Rs 5,000. It provides the same facility of check book as found in the first step.
– In the first flight saving account, the minor does not get any facility of over draft.
Some special features in both accounts
– There is no limit to how much monthly balance should be kept monthly. That is, monthly average balance is not required.
– The maximum you can keep a balance of up to 10 lakh rupees.
– The calculation is done on the interest rate daily in the savings account.
– You can transfer the account to any SBI branch without changing the account number.
– Nomination facility is also available for both first step and first flight account.
– Get a branded passbook designed in a special way. Which is not charged.
– Auto sweep facility with a limit of at least Rs 20,000. The first step will be the facility of parent or guardian over draft in the account.
– Children can also open an RD account, for which there will be no charge of any kind.
These documents will be required to open an account
The date of birth certificate of the minor will be required. Guardian’s KYC Aadhaar and PAN card will be required. Signature of Aadhar card guardian of minor.
How to open an online account like this
First of all, you should visit the bank’s official website www.sbi.co.in or www.sbi.co.in/web/personal-banking/home . After this, click in Personal Banking and select Saving Account for Minors. After this, click on Apply Now. Digital Savings Account and Insta Savings Account will appear, start the process in which you have to go. Now you have to click in the tab of Open a Digital Account. After this, click Apply now and go to the next page. Enter your complete information to open an account. Note here that it is necessary to visit the branch of SBI once to complete this process. You can also open an account by going to SBI branch in offline way.
