NEWS & ADVICE : AUTO INSURANCE
Special account scheme for minors: SBI
By Vaibhav Aggarwal
May 9, 2014
Print    Email    RSS   

On Tuesday RBI allowed the minors to open the account in the banks individually. Earlier children below 18yrs were allowed to open the bank account but with the parents as the gaurntors, but now they can open account easily.

After the decision of the Apex bank all the banks have started working to roll out new products and schemes for the children, In order to lure more number of minors banks are planning to come up new facilities soon. Recently syndicate bank has also reported to launch a new product, now its country biggest lender SBI planning for special account scheme for the children.

RBI has also asked banks to provide various facilities to the children like internet banking, ATM, cheque book facility. But the accounts of the minors should always remain in credit, from the security point of view minor accounts are not allowed to be overdrawn.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Guide to get a an auto insurance claim...
All about Vintage/Classic car insurance in...
Must have add-ons for luxury car insurance
Some New Ways to Save on Your Car...
An insight into two wheeler insurance


how to apply the atm card
how to check my new atm card status
I want to know the Car Loan Account Number and its...
how to change the contact number from old to new
HOW TO GET CIF NUMBER OF SBBJ
i want know my a/c balance

NEWS THIS WEEK
New endowment plan launched by PNB met life Feb 18, 2015
Yes bank bagged High performance award 2014. Feb 13, 2015
Banks may strike at February end Feb 4, 2015
Reliance industries to enter in to banking in association with the SBI Feb 3, 2015
OBC bank reported a drop down in its net profit Jan 30, 2015
News Archive