Kids are everything in every parent’s life. They live for children we can say. They earn, spend and sacrifice everything for their children and their future. SBI Child Account is now the topic. State bank of India (SBI) introduced saving bank account for those children whose age is under 18. In India banks allow the parents open a separate bank account for the children sake. The children under 10 years of age may not understand the power of savings in their own account, but the children age above 10 years can understand what the parents are doing with the account and savings in their account. Isn’t it?
Also Look At -> Sbi Balance Enquiry Number
SBI Child Account
The restriction for the children here is that they can withdraw money only with a maximum limit. This restriction allows us the children not to use the money exceeding the limit. Let us see the eligibility for opening the children account. The account types are
Also Look At -> SBI Card To Card Transfer
Pehla kadam can be opened as a joint account by the child and the parent (whether father or mother) or guardian. Minor children with 10 years of age at least and who can do a signature on the application form can open the account solely. There is no minimum balance to be maintained. SBI Child Account helps a lot. Ten lakh is the upper limit for the single bank account. The first SBI Child Account policy should be operated jointly and the 2nd kind of policy can be used “on their own”. You have to submit KYC documents to the bank before opening the account.
Also Look At -> SBI HRMS Login
SBI Children Plan
Both the account holders can be held the chequebook. Photo for the ATM cards is mandatory. The child photo will be placed on the Any Time Machine card. The transaction can be done up to Rs. 2,000/- can be done if the child registers for the onlinesbi account. Overdraft is not permitted for 2d policy. You can get the interest on your fixed deposits. You can add nominee for any child bank account. Passbook will be issued.
So, all of the parents suggested that you open an account for the children. That will be helpful for the children and the children come to know about the savings of the money. That helps very well in the children future. Let us see some other savings accounts across the country that will give the small idea of the savings for the children whether your child is a girl or boy.
Also Look At -> How to apply for sbi fastag
SBI Kids Account
ICICI Bank – Young Stars Account. This is the second best policy for the children in India. SBI policies are best, but you can have a look at this policy too. Karur Vyasya Bank Jumbo Kids Savings Account. This one helps us in maximizing the responsibility from the childhood itself. Apart from SBI Child Account, Citibank Junior account is another children bank account type. This will help you as similar to SBI children account. IDBI Bank- Power Kids Account, HSBC Premier Junior Account, United Bank Children Saving Account, Indus Young Saver Savings Account etc.
Also Look At -> SBI Life Insurance
Junior Account In Bank
Please take care of your children in terms of health and education. At the same time take care of their financial stability and responsibility too. Better you all have a good look at various kids’ savings accounts. Not only SBI children account, but also cross check with other mentioned above policies. You will get the complete idea of your children link with money for their future. You may get another idea too.
Verify the official site for more updates on both the plans.
Also Look At -> How to Register & Use SBI Mingle App