Kiddy Savings Accounts
Navabharat Kiddy Savings Accounts help children to learn saving money, to experiment with the buying power of money and in understanding the nuances of personal finance. Built in per day limits of the Scheme ensure their spending money wisely.
Eligibility
• Accounts will be jointly opened with the parent/guardian for minors of any age. • Accounts can be operated singly by Parent/ Guardian or jointly with the Minor. • Accounts will be opened in the sole name of the minors of 10 years and above if they can sign uniformly; such accounts can be operated singly.
KYC Requirements
• Date of Birth proof of the minor and KYC documents of the Parent.
Features
• Minimum Balance is Rs.500. • Maximum Balance is Rs. 10,00,000 • Specially designed personalised cheque books with 10 leaves will be issued to the Guardian in the name of minor under guardian duly recording the Mobile No. of the account holder. • Interest rate as applicable to Savings Bank A/c calculated on a daily balance • Transferability of accounts to any Branch • Nomination facility is available and recommended. • Passbook issued free of charge.
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