What's there in Heading? Everybody Knows it. Right.
Today is one of the Golden day for Abhinav who opened his Savings Account in IDBI bank. Now the Heading creates some noises in your Mind. How come 4 year old kid can have account !!! thanks to RBI and Technology for providing those facilities.
If you want to have Kids Savings account for your Childrens, there are plenty of options available. But i prefer to take Route of PSU banks not for their Bureaucratic Nature ( not all). Because Minimum Balance and Cost of overall Account Maintenance is Minimal than Other Luxury Banks ( Kotak, ICICI...etc). Also, IDBI is just few meters away from my House.
IDBI has Womens Savings Account with Good features. Along with the same account, You can have TWO Zero Balance Kids account linked with until they are Major.
Details: Link for the PDF
(Excerpts from IDBI Website)
Woman Savings Account | SuperShakti Women Account
IDBI Bank is introducing a special savings account for women, which we have coined as SuperShakti women account. Along with this, we are also offering a zero balance savings account absolutely free for her child below the age of eighteen years.
IDBI Bank SuperShakti (Women’s) Account Advantages
Zero Balance savings account
Two free accounts for their children below the age of eighteen years
Faster transfer of funds
Online options to pay your bills or tax
IDBI Bank SuperShakti (Women’s) Account Features and Benefits
AQB- Rs. 5,000/- (for Tier- A Branch) & Rs. 2,500/- (Tier- B Branch)
No charges for non maintenance of AQB
Two zero balance account for your child below the age of 18 years
Auto Sweep out / sweep in facility above Rs. 15,000
Specially designed Women’s International ATM cum Debit card.
Higher ATM cash withdrawal Limits- Rs. 40,000/- per day
Personalized PAP Cheque Book
25% discount* on Locker services
50% discount on Demat AMC
Free Statement by e-mail
Free amount transfer from Net Banking
Free ten transaction at other Bank ATM
Free Setting up of standing instructions
Free DD / PO cancellation