Savings Account For Minors - Personal Banking

Eligibility

• PehlaKadam : Minor of any age. This account will be jointly opened with the parent/guardian.
• PehliUdaan : Minors above the age of 10 years and who can sign uniformly. This account will be opened in the sole name of the minor.
• Mode of Operation
  • PehlaKadam : Jointly with the Parent/ Guardian or Singly by Parent/ Guardian
  • PehliUdaan : Singly operated

KYC Requirements

• PehlaKadam
  • Date of Birth proof of the Minor + KYC of the Parent Aadhaar and PAN or Form 60. Where Aadhaar number has not been assigned to an applicant, the applicant shall furnish proof of application of enrolment for Aadhaar and in case PAN is not submitted, one certified copy of an Officially Valid Document (OVD) along with Form 60 is required.In case the applicant is not a resident or is a resident in the states of Jammu and Kashmir, Assam or Meghalaya and does not submit the PAN, he shall submit one certified copy of OVD containing details of his identity and address and one recent photograph.
• PehliUdaan
  • Date of Birth proof of the Minor Aadhaar and PAN or Form 60. Where Aadhaar number has not been assigned to an applicant, the applicant shall furnish proof of application of enrolment for Aadhaar and in case PAN is not submitted, one certified copy of an Officially Valid Document (OVD) along with Form 60 is required. In case the applicant is not a resident or is a resident in the states of Jammu and Kashmir, Assam or Meghalaya and does not submit the PAN, he shall submit one certified copy of OVD containing details of his identity and address and one recent photograph.

Other Features

• Interest rate as applicable to Savings Bank A/c calculated on a daily balance
• Transferability of accounts to any SBI Branch without changing the account number.
• Nomination facility is available and recommended.
• Specially designed branded Passbook issued free of charge.
• Inter Core charges NIL for transfer transactions.