Corporation Bank

The bank provides the Corp NewGen Account for students above 10 years of age and the standard Corp Saral Savings Account for minors to be opened jointly with a parent or guardian.

Corp NewGen Account

Targeted at young students.

Features

  • The account can be opened by any minor who is a student and over 10 years
  • Can be opened with a minimum deposit of Rs. 100. The average quarterly balance is also Rs. 100
  • Kids who open the Corp NewGen Account get a debit card, SMS and net banking facility, ability to make up to 5 drafts or postal orders a month and cheque collection facility for up to 2 cheques

Corp Saral Savings Account

The standard savings account available in the bank that can be opened by a representative of a minor.

Features

  • Parents or guardians can open the account on behalf of minors
  • The average quarterly balance needed is Rs. 1,000
  • As of July 2018, the bank offers an interest rate of 3.5% for a balance of less than Rs. 50 lakh and 4% for above that amount
  • Some facilities that come with the Corp Saral Savings Account include chequebook, SMS, internet and mobile banking, online funds transfer facility, and so on

Reference Facts

  • Corporation Bank Website: corpbank.com
  • Headquarters: Mangalore, Karnataka
  • Call Centre Number: 1800 425 2407