Home» Idfc First Bank Children's Saving Account

Idfc First Bank Minors Savings Account, Idfc First Bank Children's Saving Account

Features

  • Interest rate at 4% per annum on daily end of day balances, paid quarterly will be provided
  • It gives you the benefit of higher returns along with an opportunity to guide your child to manage their savings
  • It offers child the platform to learn the basics of banking
  • By opening this account, the parents get an avenue to save for their child's future in the form of Fixed Deposits and Recurring Deposits

Eligibility

  • A Minor Savings Account can be opened for your child as long as your child is up to 18 years of age and you (the parent or guardian) hold a Savings Account with the bank.
  • If you do not have a savings account with IDFC Bank then you will need to open one, before you open a Minor's Account.

Documents Required

  • 1 Passport size photograph of child
  • Proof of child's date of birth
  • KYC Documents of the guardian
  • Proof of guardian's account with the bank

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