Open a savings account for children in SBI! No hassle of even minimum balance, know the features. You can open State Bank’s First Kadam Savings Account and First Udan Savings Account both online and offline.
- Special service for children of State Bank
- Account can be opened at home
- There is no minimum balance limit
State Bank of India, the country’s largest public sector bank, provides facilities for minors to open a Savebank account with them. Parents can open accounts for children under 18 years of age very easily. State Bank offers two categories of facilities for children’s accounts. The first category is called SBI Pehla Kadam and the second is SBI Pehli Udaan.
Both these savings accounts can be opened by customers from the comfort of their homes through the SBI mobile banking app Yono. The specialty of both the accounts is that there is no hassle of maintaining the minimum balance in both. Along with this, this account also provides facilities like net banking, mobile banking. Know about it….
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First Kadam Bank Saving Account (SBI Pehla Kadam Details)
First step A bank saving account can be opened for a minor child of any age. This account can also be opened jointly with the parent or guardian. An account cannot be opened only in the name of the child. This account can be operated by both child and parent separately.
On this account the bank issues a debit card from which you can withdraw up to Rs 5,000. This account allows you to do mobile banking transactions up to Rs 2,000. A check book is also available in this account which contains 10 cheques. This check book is issued in the name of the guardian. Mobile number is required to be entered while opening this account.
Pehli Udaan Savings Account (SBI Pehli Udaan Details)
State Bank Initiative Udan Savings Account can be opened for children above 10 years and below 18 years. This account can be opened as a single account in the name of children only. A minor can handle this account alone.
Debit card facility is also available in this account. The daily limit of which is 5,000 rupees. Along with this, Rs 2,000 can be transferred to this account through net or mobile banking. A checkbook is also available in which 10 checks are issued.
Account Opening Process
You can open State Bank First Kadam Savings Account and First Udan Savings Account both online and offline. Online you can open a bank on mobile banking app YONO. Apart from this you can open an account by going to the branch nearest to your home. For this you will need Aadhaar Card, Parent’s Aadhaar and PAN.