Children’s Savings Accounts

The RBI lists 2,150 banks in India (as of July 2018 beginning), categorising them under different heads such as nationalised banks, other public sector banks, private sector Indian and foreign banks, scheduled cooperative banks and so on. The full primary category list is:

  1. SBI and Associates
  2. Nationalised Banks
  3. Other Public Sector Banks
  4. Private Sector Banks – Indian Banks
  5. Private Sector Banks – Foreign Banks
  6. Scheduled State Co-operative Banks
  7. Non-Scheduled State Co-operative Banks
  8. Co-operative Banks – Scheduled Urban Cooperative Banks
  9. Co-operative Banks – Non-Scheduled Urban Cooperative Banks
  10. Co-operative Banks – State Cooperative Banks
  11. Co-operative Banks – District Cooperative Banks
  12. Regional Rural Banks

Most of these provide dedicated Children’s Savings Accounts. Those that do not offer the standard or specific savings accounts for children.

We look at all top 5 categories of banks, which together add to 106 banks. Of these, we ignore those banks that have a very small presence, payment banks and those that do not have a size-able retail banking presence in India. The net total of banks we look at for Savings Accounts for Children then comes to 61.

We look at each of these 61 banks for Children’s Savings Accounts. In case they do not, we look briefly at the savings accounts you can open for your children.

We will shortly add links to the specific pages of each bank that have one or more Children’s Savings Accounts, and also for those that do not but offer their standard savings accounts for children also.

Here are our links for children’s savings accounts from each bank listed below. The ones listed have something specific or general to offer for kids. There are some international banks that do not offer any account for children or even general public, as can be seen from a reading of their websites. Those banks are also listed below just for your reference.

Public Sector Banks (Nationalised Banks)

  1. Allahabad Bank
  1. Andhra Bank
  1. Bank of Baroda
  1. Bank of India
  1. Bank of Maharashtra
  1. Canara Bank
  1. Central Bank of India
  1. Corporation Bank
  1. Dena Bank
  1. IDBI Bank Limited
  1. Indian Bank
  1. Indian Overseas Bank
  1. Oriental Bank of Commerce
  1. Punjab & Sind Bank
  1. Punjab National Bank
  1. State Bank of India
  1. Syndicate Bank
  1. UCO Bank
  1. Union Bank of India
  1. United Bank of India
  1. Vijaya Bank

Private Sector Banks

  1. Axis Bank Ltd.
  1. Bandhan Bank Ltd.
  1. Catholic Syrian Bank Ltd.
  1. City Union Bank Ltd.
  1. DCB Bank Ltd.
  1. Dhanlaxmi Bank Ltd.
  1. Federal Bank Ltd.
  1. HDFC Bank Ltd.
  1. ICICI Bank Ltd.
  1. IndusInd Bank Ltd.
  1. IDFC Bank Ltd.
  1. Jammu & Kashmir Bank Ltd.
  1. Karnataka Bank Ltd.
  1. Karur Vysya Bank Ltd.
  1. Kotak Mahindra Bank Ltd.
  1. Lakshmi Vilas Bank Ltd.
  1. Nainital Bank Ltd.
  1. RBL Bank Ltd.
  1. South Indian Bank Ltd.
  1. Tamilnad Mercantile Bank Ltd.
  1. YES Bank Ltd.

Small Finance Banks

  1. AU Small Finance Bank Ltd.
  1. Capital Small Finance Bank Ltd.
  1. Fincare Small Finance Bank Ltd.
  1. Equitas Small Finance Bank Ltd.
  1. ESAF Small Finance Bank Ltd.
  1. Jana Small Finance Bank Ltd.
  1. North East Small Finance Bank Ltd.
  1. Suryoday Small Finance Bank Ltd.
  1. Ujjivan Small Finance Bank Ltd.
  1. Utkarsh Small Finance Bank Ltd.

International Banks

  1. Barclays Bank Plc.
  1. Citibank N.A.

Major International Banks in India With No Dedicated Children’s Savings Accounts

  1. DBS Bank Ltd.
  2. Deutsche Bank
  3. HSBC Ltd.
  4. Standard Chartered Bank
  5. United Overseas Bank Ltd.