Barclays Bank vs Catholic Syrian Bank: Children’s Savings Accounts
Barclays Bank does not offer a dedicated children’s savings account, even though it is likely that the standard savings accounts can be opened for children jointly with a parent or guardian. Catholic Syrian Bank allows parents and guardians to open its various savings accounts – Blue, Silver, Gold and Platinum – on behalf of minors.
Children’s Savings Accounts from Barclays Bank
Barclays Bank does not focus on the retail segment and as such does not offer any specific children’s savings or any other account. The only option for someone who wishes to open a children’s account may be through the savings account. The bank offers 2 types of savings accounts, the Barclays Savings Account and the Basic Savings Bank Deposit Account.
Barclays Savings Account
The account needs an average quarterly balance of Rs. 1 lakh.
- Customer get Classic Debit Card and a chequebook
- The customer can use the debit card for any number of transactions in all VISA ATMs of all banks
- The bank offers free demand drafts that are payable at its branches in the country
- Customer also have a free SMS facility and online banking facilities with their Barclays Savings Account
Children’s Savings Accounts from Catholic Syrian Bank
Catholic Syrian Bank is one of the oldest banks in the country having been established in 1920. The bank does not offer a dedicated children’s savings bank account but its Blue, Silver, Gold and Platinum savings accounts can be opened on behalf of minors by their parents or guardian.
Blue Savings Account
This savings account comes one step up the InstaDigital Savings Account but offers lesser number of features than the Gold and Platinum accounts.
- Offers up to 5 free use of other bank ATMs
- Allows up to Rs. 40,000 in withdrawals from ATMs per day
- The Blue Savings Account comes with the RuPay Platinum Debit Card
- Minimum quarterly balance needed is Rs. 1,000 for urban areas and Rs. 500 for rural regions
Silver Savings Account
The Silver Savings Account is one step up the Blue Savings Account and comes with the following features.
- Unlimited free access to any ATMs in India
- Allows up to Rs. 75,000 in withdrawals from ATMs every day
- Users get 20% discount on locker rentals
- The Silver Savings Account comes with the VISA Platinum Debit Card and offers all its benefits
- Minimum quarterly balance needed is Rs. 5,000 for urban and rural areas
Gold Savings Account
The Gold savings account from Catholic Syrian falls between the Silver and Platinum accounts. Most of its benefits are similar to the Silver account.
- Unlimited free access to any bank ATM in the country
- Allows customers to withdraw up to Rs. 75,000 from ATMs every day
- Users get 30% discount on locker rentals
- The Gold Savings Account comes with the VISA Platinum Debit Card
- Minimum quarterly balance requirement is Rs. 25,000 for urban and rural areas
Platinum Savings Account
The top savings account from Catholic Syrian Bank portfolio.
- Users have unlimited free access to any ATMs in India
- Customers can take out up to Rs. 75,000 from any ATM every 24 hours
- The customers also get 50% discount on locker rentals
- Platinum Savings Account comes with the VISA Platinum Debit Card like the Silver and Gold accounts
- Minimum quarterly balance requirement is Rs. 1 lakh for both urban and rural branches
- Barclays Bank Website: www.barclays.in
- Headquarters: Mumbai, Maharashtra
- Call Centre Number: +91 22 6000 1550 (Corporate Banking), +91 22 6000 7888 (Debit Card Lost/Stolen/Damaged)
- Catholic Syrian Bank Website: www.csb.co.in
- Headquarters: Thrissur, Kerala
- Call Centre Number: 1800 266 9090