Andhra Bank vs Allahabad Bank: Children’s Savings Accounts

Andhra Bank offers three children’s savings accounts called AB Kiddy Bank, AB Little Stars and AB Teens. On the other hand, Allahabad Bank does not have a children-focussed savings account per se. The bank offers its standard savings account to minors as a joint account with an adult, i.e. a parent or a guardian.

Let us look at each of these accounts. But first a note.

Note: The Indian Banking Industry is going through a phase of mergers and amalgamations. Nationalised banks are being combined to make bigger entities. One bank that is being combined with another is Allahabad Bank. So, even though it is likely that what the bank currently provides will remain same for some time, chances of accounts with similar objectives but of different banks being combined under a new scheme is highly probable after the dust settles.

Now back to topic.

Children’s Savings Accounts from Andhra Bank

AB Kiddy Bank

This is the standard savings account for children and is available for all minors below the age of 18 years.


  • AB Kiddy Bank account can be opened by any minor up to the age of 18 years
  • Kids above the age of 10 years (and below 18) can open and operate the account without the need for an adult guardian if they can produce proof of their date of birth
  • Children receive a piggy bank doll on opening the account. This doll can be unlocked only at the branch where the account is held ensuring the money remains safe in the doll
  • This AB Kiddy Bank account can be opened with a minimum deposit of Rs. 100

AB Little Stars

This account is meant for children in the 10-15 years age group.


  • The account can only be operated by the parent or guardian
  • The minimum balance requirement is Rs. 250 for rural and semi-urban branches and Rs. 500 for urban and metropolitan branches
  • Andhra Bank issues a passbook with a photo and a special withdrawal booklet with the AB Little Stars account. The parent or guardian can withdraw money for the child on production of the savings banks passbook or any other ID proof
  • No NEFT or RTGS withdrawals can be made from the account

AB Teens

This account is for teenagers in the 15-18 years age category. Most features are similar to the Little Stars account.


  • The AB Teens account can only be operated by the child provided he or she can sign for the account
  • The minimum balance requirement is same as Little Stars, i.e. Rs. 250 for rural and semi-urban branches and Rs. 500 for urban and metropolitan ones
  • Account holders get the passbook (with photo) and the special withdrawal booklet as with the Little Stars account
  • Again, no NEFT or RTGS withdrawals can be made from the account
  • The account holder gets a Rupay ATM card with her photo and internet and mobile banking facilities

Children’s Savings Accounts from Allahabad Bank

Savings Account Features

  • The initial deposit has to be paid in cash
  • If you need a chequebook with the account, the bank has a minimum balance requirement of Rs. 500 in rural and semi-urban areas. It is Rs. 100 without a chequebook. The minimum balance requirement in urban areas is Rs. 1,000 with a chequebook and Rs. 500 without
  • The bank will give you 20 free cheque leaves each year

Premium Savings: Allahabad Bank also offers you a Premium Savings Bank Account that has a minimum balance requirement of Rs. 5,000 in rural areas and Rs. 10,000 in urban geographies. If you want to have a children’s account with more facilities than what the standard account offers, you may ask the bank to open this account on behalf of your child.

Other Accounts: The Bank also offers a 3-in-1 account in partnership with Aditya Birla Money. This has an online trading account and a Savi Fix account that allows individual savings bank account holders to opt for a Multiple Option Deposit (MOD) scheme to increase their returns.

Important point: The Allahabad Bank website does not specifically say if it offers the 3-in-1 account or Savi Fix account for children except clarifying that it is open to savings account holders. It may be that this account is not meant for kids but the bank may allow young adults above 18 years of age to open one. Best if you ask the bank branch.

Deposits: In terms of other savings options (deposits, not accounts), the bank offers the Sishu Mangal Deposit Scheme for children in the age group of 1-15 years. You should ask the bank about this scheme and see if it suits you better than say, a premium savings, 3-in-1 or Savi Fix account.

Reference Facts

  • Andhra Bank Website: and (net banking works only from the main site’s internet login link)
  • Headquarters: Hyderabad, Telangana
  • Call Centre Toll-Free Number: 1800 425 1515
  • Allahabad Bank Website: and (net banking)
  • Headquarters: Kolkata, West Bengal
  • Call Centre Toll-Free Number: 1800220363 (ATM / Other Delivery channels), 1800226061 (Internet, Mobile, and SMS Banking)