SBI savings accounts for minors
SBI provides the ability to open Savings Accounts in their own children. Pehle Kadam (first step), Pehle udhan has the two schemes are available. SBI has brought forward the aim of introducing purchasing power and training of children from a small child.
Minor Savings Accounting: Anyone can apply to Pahalle Kadam with the parents or guardians. Children over the age of 10 will qualify for Pahalle Udan. The same type of signature minors can take it on their name.
There are no minimum sums to open these accounts. Maximum amount of Rs.10 lakh can be hidden in the bank.
The terms applicable to those who have SBI savings account are applicable to the applicants. There is also the convenience of changing a bank account from a branch to another branch without any change in the account number.
Auto Sweep facility is available for both these schemes with a minimum balance of Rs. 20,000.
These clients provide ATM cum debit card. There will also be a photo of its customer.
Paying bills along with mobile banking, top ups are available in these two types of accounts. They can also maintain daily transactions upto Rs.2000. The pauley cadm in the Pahali Kadam with the name of the guardian is provided by the bank. Under Pehlee Evan, a check book is given by the name of the minor.