DCB Bank vs Karnataka Bank
DCB Bank does not offer a dedicated children’s account but instead offers its Classic savings account for children through parents or guardians. Karnataka Bank offers a dedicated children’s account called KBL Kishore.
Children’s Savings Accounts from DCB Bank
DCB Bank, known previously as Development Credit Bank, does not offer a dedicated children’s account though its Classic account may be available for children through their parents or guardian.
Classic Savings Bank Account
This is the standard savings bank account from the bank.
- Accountholders need to maintain a minimum balance of Rs. 5,000 for Tier I branches and Rs. 2,500 for Tier 2 branches. This amount may be less for accounts opened on behalf of minors. Details of the same are not provided clearly on the bank website and as with such instances it may be a good idea to call and ask customer care at the numbers below
- The Classic Savings Bank Account offers payable at par cheque book
- Accountholders also get unlimited free access to all the bank’s ATMs and Visa ATMs in India, provided the account has an average monthly balance of Rs.10,000
- One of the key features seems to be free unlimited use of online transfers through RTGS and NEFT
- Account holders also get complimentary internet, phone and mobile banking facilities, through the access is likely to be limited for the child directly unless they have reached a certain age, as happens with most banks
Children’s Savings Accounts from Karnataka Bank
Karnataka Bank, one of the older banking institutions in the country, offers a dedicated children’s account called KBL Kishore.
The children’s account is available to kids over the age of 10 years and up to 18 years.
- The account comes without any minimum balance requirements
- The bank offers a free debit card with 24-hour cash withdrawal limit of Rs. 10,000 and POS limit of Rs. 5,000
- KBL Kishore allows parents or guardians to transfer up to Rs. 50,000 per month from their account to the child’s account
- The kids and their parents can keep a track of the account through the bank’s mobile app
- DCB Bank Website: www.dcbbank.com
- Headquarters: Mumbai, Maharashtra
- Call Centre Number: 1800 209 5363, 1800 123 5363
- Karnataka Bank Website: https://karnatakabank.com
- Headquarters: Mangaluru, Karnataka
- Call Centre Number: 1800 425 1444