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IB Kishore – Savings Bank Account for Minors

IB Kishore – Savings Bank Account for Minors

 

TARGET CUSTOMERS ·  Accounts introduced for Minors who have attained the age of 10 years upto 18 years and can put their signature.

·        The account should be fully KYC compliant.

·        PAN/ Form-60 to be obtained

NATURE OF OPERATION ·         No joint account will be allowed under this Scheme
INITIAL DEPOSIT ·         Rs.500/-
AVERAGE MONTHLY MINIMUM BALANCE ·         NIL
MAXIMUM BALANCE CAPPED AT ·         Rs.200000/-
CONVERSION OF ACCOUNT ·   A provision will be made for conversion to GenX Saving Account on attainment of 18 years of age on submission of upto date KYC documents
CHEQUE BOOK ·   No cheque book facility at present.
NET/MOBILE BANKING ·   Would be provided with maximum transaction limit of Rs.10,000/- per day
ATM DEBIT CARD ·   RuPay Classic ATM Card only with 1st year AMC free.
MAXIMUM WITHDRAWAL AT OUR BANK ·   Unlimited counts with a per day limit of Rs.10,000

 

MAXIMUM WITHDRAWAL AT OTHER BANK ATMs ·   Rs.10000/- with 3 withdrawals free in Metro ATMs & 5 withdrawals if in Non-Metro including non-financial transactions
MAXIMUM TRANSACTION AT POINT OF SALES (POS) ·   Not available
CONCESSIONS IN INTEREST RATE ON RETAIL PRODUCT LOANS ·  Available on Select Products.

·  Terms and Conditions apply

( Last modified on Oct 05, 2021 at 01:10:30 PM )

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