The largest lending institution of the country State bank of India has rolled out two new savings product for the minors. In order lure more number of youngsters the bank has introduced the products - ‘Pehla Kadam’ and ‘Pehli Udaan.
Throwing the light on the product details bank reported that Pehla Kadam is a SB account that children can open jointly with their parents and Pehli Udaan can be singly operated by the minors up to the age of 10 years. These products will offer several facilities to the holder. Both the products offer gamut of facilities including internet banking with limited transaction facilities such as bill payment, opening of fixed deposits, recurring deposits.
The Chairman and Managing director of the Bank Mrs. Bhattacharya launched the products, stating that the bank is launching these products with the aim to develop the savings habits in the children.