Bank Of Maharashtra Mahabank Yuva Yojana, Bank Of Maharashtra Children's Saving Account
Features
- Minimum balance criteria will be made applicable after the age of 18 of the account holder.
- Cheque book will be issued after the age of 18 of the account holder.
- Interest rate is 4% p.a. on deposited amount.
- ATM cum debit card will be issued.
Average Monthly Balance
Nil
Eligibility
Age group of the child should be between 1 day and 18 years. The guardian can open and operate the account on behalf of the minor.
Documents Required
- Application in the Bank's prescribed form.
- Copy of PAN Card / Form 60 or 61 (if customer does not have PAN Card).
- 2 Photographs of Depositor.
- Proof of Identity and address as per KYC Norms.
Fees & Charges
- Charges for non maintenance of minimum quarterly average balance: Rs 35 to Rs 70 p.m.
- DD Cancellation: Rs 100
- DD Revalidation: Rs 40
- Statement/Duplicate Account Statement: Rs 10 per group of 30 entries or part thereof for previous entries
- Cheque Book: No cheque book will be issued to this account
- Stop Payment for individual cheque or a range of cheques: Rs. 50 per cheque
- Closure of Account: Rs 200
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