If your child is less than 18 years of age and you want to open a bank account for your child, then this article is very important for you, this article has given detailed information about how to open a bank account for a child and What are the documents required to open a bank account ?
How to Open Bank Account For A Child
If the child’s age is 10 years or more, then the child’s account can be opened in any bank with the necessary documents. Now-a-days children are getting the facility to open Pehla Kadam Savings Account and Pehla Udaan Savings Account in SBI. That is, SBI’s first step account for children below 10 years and first flight account for children between 10 and 18 years can be opened. To open either of these accounts one has to apply by visiting the nearest bank branch of SBI. SBI’s Pehla Kadam account is operated under parental supervision while the Pehla Udaan account can be updated by the child himself, and the account is converted to a normal savings account once the child turns 18.
Benefits of Opening a Child’s Bank Account
- It is easy to deposit funds for the child.
- The habit of saving can be inculcated in the child.
- One can get the benefit of scholarship, incentive amount and other schemes in the account.
- Interest can be availed on the money deposited in the account.
- Various types of banking facilities provided by the bank can also be availed.
- Read Also ICICI Pru IProtect Smart
Documents required to open a child’s bank account
- Birth certificate of the child
- Aadhaar card of the child
- Guardian’s Aadhaar and PAN Card
- Guardian’s Signature
Can we open a new born baby bank account?
Yes, you can open a bank account for a new born child.
What is the minimum age of children to open a bank account?
The minimum age of the child should be at least 10 years to open a bank account. But in State Bank of India Pehla Kadam account can be opened for children below 10 years and Pehla Udaan account can be opened for children between 10 to 18 years of age.
What are the necessary documents required for children to open a bank account?
Child’s birth certificate, Aadhaar card and mother’s or father’s Aadhaar card, PAN card, signature are required to open a bank account.
How to open children’s bank account?
To open a bank account for children, one has to apply directly to the bank branch with the necessary documents, or the account can be opened online through the bank’s official website or app.
Which is the best bank to open a bank account for kids?
Bank account for children can be opened in any bank, but the best bank is State Bank of India.