Ujjivan Small Finance Bank Children’s Savings Accounts

Ujjivan Small Finance Bank offers a dedicated savings account for minors unlike most other small finance banks that do not

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.

Featured Content

Help your child understand and master complex subjects like Maths, Science, Software Dev, Data Science and more with educators from MIT, Caltech, Cambridge, Carnegie Mellon and other top colleges

Super fun and easy interactive gamified platform. Courses Recommended by experts

FD Recommended: We have seen no better site in gamified teaching of science and math subjects.

Minor Account

The account can be opened jointly with a parent or guardian.

Features

  • 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

Reference Facts

  • Ujjivan Small Finance Bank Website: www.ujjivansfb.in
  • Headquarters: Bengaluru, Karnataka
  • Call Centre Number: 1800 208 2121