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-97 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 |
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