With the purpose to develop the savings habits in the children banks are coming with several schemes for the children. Following the trend, ICICI bank has launched a new account for minors above 10 yrs of age.
The bank introduced this scheme named – Smart Star. Highlighting the features of the account bank stated that, children can open this account on their own name and will also be provided with a personalized cheque book along with debit card.
Minors can perform all the banking transactions like open fixed deposits and recurring deposits, issuing cheques in this account. In addition to this they will also be provided with the access to the ATMs and mobile and e- banking facilities.