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State Bank Of India PehlaKadam, State Bank Of India Children's Saving Account

Features

  • SBI offers 2 accounts for minors known as PehlaKadam and PehliUdaan.
  • No minimum balance (AMB) required.
  • Transfer the account to any SBI Branch without changing the account number.
  • Nomination facility available.
  • Interest offered is 4% p.a.
  • Photo ATM cum debit card with withdrawal/POS limit of Rs. 5,000.
  • Cheque book is issued without any charge.
  • Passbook facility is provided free of charge.

Average Monthly Balance

Nil

Eligibility

  • Minors of any age can open the account
  • Account to be operated jointly with parent/guardian

Documents Required

  • Date of Birth proof of the Minor
  • KYC of the Parent

Fees & Charges

  • Cheque Book: First Payable Ae Par cheque book of 25 leaves is for free. After that cheque books will be charged at Rs 3 per leaf
  • Issuance of Pass book: Nil
  • Duplicate Passbook: Rs 112
  • Balance enquiry: Nil
  • Transfer of Account: Rs 112 (inclusive of postal charges)
  • Transactions at State Bank Group ATMs: Free
  • Transactions at Other Bank ATMs: Free up to 5 transactions. After that, financial transactions are charged Rs. 17, and non-financial Rs. 6
  • Funds transfer: Nil
  • Account closure: Within 14 days-Nil, Upto 6 months-Rs.337 & 6 to 12 months-Rs 225
  • Phone banking (IVR): Free
  • Local Cheque deposited for outstation accounts: Free

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