Ujjivan Small Finance Bank Children’s Savings Accounts
Ujjivan Small Finance Bank started out as a non-banking financial company (NBFC) in 2005 and received its commercial banking license in 2016. Unlike most other small finance banks, Ujjivan has a dedicated savings account for minors.
The account can be opened jointly with a parent or guardian.
- There is no minimum balance requirement on the account, and consequently no charges on non-maintenance of the said balance
- The account is operated by the parent or guardian until the child reaches the age of majority. The minor cannot operate the account independently
- Minor accountholders get a personalised RuPay Classic Debit Card on request once they cross the age of 10 years
- The Minor Account is converted into a regular savings account once the child reaches the age of maturity
- The bank offers a free SMS facility on the guardian’s or the accountholder’s registered mobile number
- Accountholders also get access to NEFT, RTGS and IMPS
- Ujjivan Small Finance Bank Website: www.ujjivansfb.in
- Headquarters: Bengaluru, Karnataka
- Call Centre Number: 1800 208 2121