SBI Savings Bank Account for Minors: Want to open a savings bank account for a minor. India’s largest public lender State Bank of India (SBI) is offering ‘Pehla Kadam’ and ‘Pehli Udaan’ – saving bank accounts for minors with internet banking and mobile banking facility.
The bank on its website says that the two savings bank accounts are being offered for minors to enthuse the importance of saving money and also get them acquainted with the “buying power of money”. ‘Pehla Kadam’ and ‘Pehli Udaan’ accounts are integrated with ‘per day limits’ feature to ensure that they spend the money wisely.
See features here:-
-No Monthly Average Balance (MAB) requirement
-Maximum Balance Rs 10 lakh
-Cheque-book facility is available with both types of accounts. The mobile number of the account holder is recorded. Specially designed personalised chequebook with 10 cheque leaves are issued. In the former case it will be