NEWS & ADVICE : SAVINGS ACCOUNTS
Savings account for Minors increasing rapidly
By Vaibhav Aggarwal
Oct 7, 2014
Print    Email    RSS   

To develop the savings habit among all the youngsters the bank these days are highly encouraging kids to open their savings accounts with the bank. In recent times the reputed banks of the country have come up with large variety of new savings accounts for the minors.

The reports have shown that new born babies are having their savings account in the banks. The banks ask the minors to open savings account with them and they will help them in keeping their savings secure along with the additional interest. The banks are offering an interest rate of 4.5% on minors savings account. It has been noticed that a 12 days old baby is having savings account with the Kotak Mahindra bank.

Further the banks are also organizing classes in the schools, asking the children to open their savings account. Recently SBI organized a class in schools asking children to move their piggy banks from the home to banks. Children are being taught about benefits of savings. Banks are receiving an overwhelming response both from urban as well as rural areas, with the bank adding 35,000 accounts a month. The Kids are being offered with various facilities in these accounts.


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

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Carnival of Indian Personal Finance Blogs #3
Carnival of Indian Personal Finance Blogs #4
How to check balance in savings bank account
Carnival of Indian Personal Finance Blogs #6
12 point conduct checklist for bank and...


WHO TO CHANGE PNB MOBILE NUMBER ONLINE
my name is bhumikaben maganbhai dabhi pls.tell my...
name: Mainuddin Ali a/c no: 343172185 in seving...
bank account balance details
HOW TO GET MY CIF NO. WITH ACCOUNT NUMBER
sbi account holder detail of the account...

NEWS THIS WEEK
HDFC bank adjudged as the Best private bank in India Feb 16, 2015
HDFC reported an increase of 20% in its net profit Feb 16, 2015
ICICI bank launched Flash remit facility Feb 13, 2015
BOM launched new savings deposit scheme for HNI customers Feb 12, 2015
BMB bank to have a total of 80 branches by the March end. Feb 10, 2015
News Archive