Posted on 27-12-2020 by Admin
You can also open an account with your children 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, the country 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.
- 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. There is 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.
Pehli Udaan 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.
- The calculation is done on the interest rate daily in the savings account.
- The account can be transferred 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.
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.