Bal Bachat Saving account is the product designed for the children/ minor below 18 years of age. This product is designed intending parents to save for the future of their children. Children/Minor below 18 years can only open this account, which can be operated by the guardian. When minor turns adult and attains the age of 18 years, Account is automatically Dr. restricted, the account is to be operated by account holder and the documents is to be obtained as per the adult.
If the account holder wishes to close the account, then he/she request to close the account and open new account. Otherwise, the account type i.e Child Saving Account shall be changed as per the desire of the account holder. Account Type Change request application form shall be obtained from the account holder.
Features
Product Name | Bal Bachat Khata (Child Saving Account) |
Account Type | 19 |
Primary Target Market | Children under the age of 18 years for the purpose of helping them develop good saving habit as well as to save for future |
Minimum Balance | NPR 100 /- |
Interest rate | As per Published rate by the Bank from time to time |
KS iMobile | As per STC |
Debit Card | As per STC |
Locker Fee | As per STC |
Locker Security Deposit | As per STC |
Demat | As per STC |
MeroShare | As per STC |
Interest Calculation | Interest Calculation on daily basis and payable on quarterly basis |
Standing Instruction | Free from parent’s account to child account for regular transfer of money |
Required Documents
Note:
- Birth Registration Certificate should be submitted to open this account.
Children, Minors below 18 years can only open this
account which can be operated by the guardian. When minor turns
adult and attains the age of 18 years, the account is to be operated by account
holder and the documents is to be obtained as per the adult.
Required Documents
·
Birth Registration Certificate should be submitted to
open this account.
·
Citizenship
of parents/guardian along with KYC to be provided.
