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:
- SBI and Associates
- Nationalised Banks
- Other Public Sector Banks
- Private Sector Banks – Indian Banks
- Private Sector Banks – Foreign Banks
- Scheduled State Co-operative Banks
- Non-Scheduled State Co-operative Banks
- Co-operative Banks – Scheduled Urban Cooperative Banks
- Co-operative Banks – Non-Scheduled Urban Cooperative Banks
- Co-operative Banks – State Cooperative Banks
- Co-operative Banks – District Cooperative Banks
- 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.