South Indian Bank Children’s Savings Accounts

South Indian Bank offers a children and youth-centric account called Junior Savings Account. It can be opened and operated by kids above 10 years

South Indian Bank Children’s Savings Accounts

South Indian Bank offers children and youth-centric accounts as well as savings accounts for women and senior citizens in addition to general savings accounts.

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Junior Savings Account

This account is primarily meant for students.

Features

  • Children above the age of 10 years can open the account
  • All they need is an introduction from the principal, head of department (for college) and a photo ID card. Other standard introduction measures also work
  • The minimum amount needed to open this account is Rs. 10 though the minimum balance needed is Rs. 150. The bank gives a time of three months to take the balance to this level
  • Chequebooks and online banking are made available when the child reaches the age of 18 years and keeps an average balance of Rs. 1,000
  • The bank offers a complimentary ATM-debit card to kids having the Junior Savings Account
  • Children with this account are eligible to apply for education loans from South Indian Bank

Reference Facts

  • South Indian Bank Website: southindianbank.com
  • Headquarters: Thrissur, Kerala
  • Call Centre Number: 1800 425 1809, 1800 102 9408