Catholic Syrian Bank vs Capital Small Finance Bank

Catholic Syrian Bank vs Capital Small Finance Bank

Catholic Syrian Bank allows parents and guardians to open its various savings accounts – Orange, Silver, Gold and Platinum – on behalf of minors. Capital Small Finance Bank allows kids to open its standard savings account called Normal Savings Account under guardianship.

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 Orange, Silver, Gold and Platinum savings accounts can be opened on behalf of minors by their parents or guardian.

Orange 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.

Features

  • Offers up to 5 free use of other bank ATMs
  • Allows up to Rs. 40,000 in withdrawals from ATMs per day
  • The Orange 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 Orange Savings Account and comes with the following features.

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.

Features

  • 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.

Features

  • 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

Children’s Savings Accounts from Capital Small Finance Bank

Capital Small Finance Bank allows a parent or guardian to open its standard savings account – Normal Savings Account – on behalf of a child.

Normal Savings Account

This is the standard savings account of the bank. We list the features below if you want to open a children’s account with the bank.

Features

  • The Normal Savings Account of Capital Small Finance Bank can be opened on behalf of minors by their parent or guardian. Other accountholders have to reach the age of 18 years before they can open an account. So, in all effect, the account opened for minors can be classified as a minor’s account with different set of services than standard accounts
  • The minimum balance needed is Rs. 100 in rural areas but without chequebooks. In case a chequebook is needed, the minimum balance needed is Rs. 300. In urban or semi-urban areas it is Rs. 300 without chequebook and Rs. 500 with one
  • All other factors are similar to standard savings account

Note: Information on the savings accounts is sketchy and it will be best if you approach the bank to open a minor account. Being a Jalandhar headquartered bank, it may be a good idea to open an account with this bank if you stay in the city or adjoining areas. The bank has a very strong growth strategy and intends to reach over 220 branches by 2021.

Reference Facts

  • Catholic Syrian Bank Website: www.csb.co.in
  • Headquarters: Thrissur, Kerala
  • Call Centre Number: 1800 266 9090
  • Capital Small Finance Bank Website: www.capitalbank.co.in
  • Headquarters: Jalandhar, Punjab
  • Call Centre Number: 1800 120 1600 (8 am ? 8 pm)