Vijaya Bank Children’s Savings Accounts

Note: The bank along with Dena Bank has been merged with Bank of Baroda, effective from April 2019, and all details of products and services referred to here are for the original Vijaya Bank, prior to the merger.

Vijaya Bank provides two dedicated accounts for children – V Genuth Savings Bank Account and V Balika Savings Bank Account. The bank also offers its standard savings account for minors under guardianship as well as on an independent basis once the child has crossed the age of 12 years.

V Genuth Savings Bank Account

The account is available for all children with age ranging from 1-day old newborns to up to 18 years of age.


  • Vijaya Bank only needs Rs. 10 as account opening balance. In addition, there is no minimum balance requirement
  • Kids above 12 years can operate open the account in the own name
  • If the account was opened before the child was 12 years of age, then the parent can authorise her to operate the account on her own after she crosses that age. The bank sets a daily limit of Rs. 10,000 for withdrawal or deposit in such cases
  • The 12 years plus account holders (whether their parents authorised them to operate the account after they crossed the age limit or the account was opened after they reached 12 years) get their own chequebook. They also get a credit card and an ATM card if the bank receives an authorisation for the same from the parents
  • Children also get access to internet banking facility
  • The account comes with an auto-sweep facility under which any balance in excess of Rs. 10,000 is transferred to a term deposit in multiples of Rs. 5,000
  • The bank offers free collection of cheques or demand drafts gifted to the child up to an amount of Rs. 25,000
  • There is no charge for fee payments made to schools or colleges
  • The bank also offers a concession of 0.5% on the education loan interest rate to the V Genuth Savings Bank Account holders

V Balika Savings Bank Account

Vijaya Bank started offering this account under the government’s incentive scheme for girls to continue with their secondary education.


  • A girl child who is below 16 years of age can open the account provided she meets certain criteria such as:
    • She has passed class 8 and is from an SC or ST group
    • She has passed class 8 from Kasturba Gandhi Balika Vidyalaya
    • She has enrolled for class 9 in a government or local body aided school
    • She is not married
  • The account does not need any minimum opening balance
  • The specified authorities will deposit Rs. 3,000 in this account if the kid meets all the relevant education and marital status criteria
  • The V Balika Savings Bank Account comes with a V-Balika Term Deposit Account scheme under which the incentive is transferred to the deposit scheme until the child reaches the age of 18 years

Savings Bank Account

The standard savings bank account can be opened on behalf of a minor by a parent or guardian.


  • As mentioned, the account can be opened by a parent or guardian on behalf of the child or it can be opened by the child on her own if she is over 12 years of age
  • If the account is operated by a child on her own, then the maximum balance on the account shall not cross Rs. 10,000
  • The account needs a balance of Rs. 1,000 in rural and semi-urban areas and Rs. 2,000 in metros and urban areas. However, the bank offers a concession for students keeping the minimum balance at Rs. 500

Reference Facts

  • Vijaya Bank Website: and (net banking)
  • Headquarters: Bangalore, Karnataka
  • Call Centre Number: 1800 425 5885 , 1800 425 9992, 1800 425 4066