SBI Savings Bank Account for Kids: Eligibility, Benefits & Other Details

SBI offers Pehla Kadam and Pehli Udaan savings account for kids

Pehla Kadam and Pehli Udaan are full bouquets of banking products that will not only help kids learn the importance of saving money, but also allow them to experiment with the ‘buying power’ of money, the lender mentioned. done on your website.

“Both the savings accounts are completely filled; Equipped with banking facilities like Internet Banking, Mobile Banking etc., which will not only acquaint children with the various channels of modern banking but will also teach them the nuances of personal finance.” State Bank Of India Told.

Here’s what you need to know about SBI Pehla Kadam, Pehli Udaan savings accounts

Cheque Book

first step

A specially designed personal check book (with 10 check leaves) will be issued to the guardian in the name of the minor under the guardianship.

First Flight

Where the mobile number of the account holder is entered. A specially designed personal check book (with 10 check leaves) will be issued if the minor can sign the same.

Photo ATM-cum-Debit Card

Step 1: ATM-cum-Debit card with Withdrawal/POS limit Embossed child’s photo 5,000 cards will be issued in the name of minor and guardian.

First flight: With photo embossed ATM-cum-debit withdrawal/POS limit 5,000 will be issued in the name of the minor.

mobile banking

Step 1: Viewing rights and limited transactions like: bill payments, top ups. Transaction limit per day 2,000

First flight: With viewing rights and limited transactions like – Bill payment, Top up, IMPS. Transaction limit per day 2,000. Auto sweep facility with minimum limit of Sweep in 20,000 Many 1,000/- with minimum 10,000.

eligibility

Step 1: A minor of any age. This account will be opened jointly with the parent/guardian.

First flight: Minors above 10 years of age and who may equally sign. This account will be opened in the sole name of the minor.

mode of operation

Step 1: Jointly with parent/guardian or by parent/guardian alone

First flight: solo operated

SBI’s Pehla Kadam, Pehli Udaan Savings Accounts for Children Other Features

• The interest rate applicable on the savings bank account is calculated on the daily balance.
• Transferability of accounts to any SBI branch without changing the account number.
• Nomination facility is available and recommended.
• Exclusively designed branded passbook issued free of cost.
• Charges zero fee for inter core transfer transactions.

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