This unique deposit product has been introduced with an objective to inculcate saving habits in the minors (who are in the age between 10 to 16 yrs) and help them in becoming responsible by allowing them to operate this account independently.
A special savings scheme for minors, who have attained 10 years of age but not crossed 16 yrs, can read & write, can open this Savings account in their own name singly. No cheque book will be issued to this Account holder; however the minor is allowed to withdraw money from his/her account using ATM card or through withdrawal slip.
Target: Minor Age between 10 to 16 years.
- Payment through Withdrawal Slip can be Allowed to the Minor under his/her Signature.
- Can be Converted to Savings Account on minor Attaining the age of 16 Years.
- Statement on Demand.