If you want to open an account for children, then know about both PNB or SBI

Punjab National Bank: Punjab National Bank (PNB) is the second largest bank in the country and this bank provides an account opening facility not only to elders but also to children. Today, we’ll discuss a PNB account that is specifically designed for kids.

PNB Junior SF Account

The PNB Junior SF Account, a savings fund account created specifically for children with special needs, is the name of the account for PNB’s youngsters. This account can be opened by children older than ten.

What is necessary to open this account To open

In this account, you have to do KYC. Identity and address documents are also required in addition to the photo. You can also visit the official link https://tinyurl.com/u88j3rdx for more information about this account.

Special Features of PNB Junior SF Account

There is no minimum balance requirement for this account. This account can be formed by both legal and biological parents for underage children. This account can be opened independently by children above the age of 10. This account has no initial deposit.

5000 rupees can be withdrawn every day, 
The bank provides the kids with free demand draughts for school and college on this account. Apart from this, the facility of Rupay card has been given in it, through which the customer can withdraw Rs 5000 daily.

Facilities available in PNB Junior SF Account
In a PNB Junior Account, the minimum Quarterly Average Balance (QAB) is zero. Customers also receive a chequebook with 50 blank checks for this account, good for one year. In addition to this, the NEFT transaction option is now available, allowing free transactions up to Rs 10,000 each day.

SBI Saving Account for Children

Children can open accounts at State Bank (SBI Savings Account for Children) in two categories. The name of the first class is Pehla Kadam (SBI Pehla Kadam) and the second class is Pehli Udaan (SBI Pehli Udaan). The unique feature of both accounts is that there is no trouble associated with keeping a minimum balance in either. Additionally, this account offers features like net banking and mobile banking.

Pehla Kadam Savings Account (SBI Pehla Kadam Saving Accounts) Pehla Kadam
Any minor child of any age may open a bank savings account. This account can also be opened jointly with a parent or guardian. Accounts cannot be created only in the child’s name. Both the parent and the youngster may use this account independently. The bank gives a debit card for this account that allows withdrawals up to Rs 5,000. This account allows you to do mobile banking transactions up to Rs.2,000. Additionally, this account has a chequebook with 10 checks in it. This chequebook is issued in the guardian’s name. A mobile number is required to be entered while opening this account.

Pehli Udaan Savings Account SBI Pehli Udaan Savings Account Pehli Udaan Savings AccountChildren over the age of 10 and under the age of 18 may open an account at State Bank. This account can be opened as a single account in the name of the children only. A minor can handle this account alone. A debit card facility is also available in this account with a daily limit of Rs 5,000. Additionally, 2,000 rupees can be added to this account using a net or mobile banking. There is also a chequebook available that contains 10 checks in addition to this.

Read More: Savings Account: Do not become a fraud with an inactive account! Close the account today for protection, do these 4 important things before closing

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