Personal Loan
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Cent Balbhavishya

Though existing Schemes for minors in our Bank namely Savings Account, Recurring deposit and all other Time deposit accounts are there, we need to have some attractive Scheme for the minors. Hence, with a view to attract more low cost deposit and cultivating habit of saving by minors for longer period and for their careers a new deposit Scheme has been formulated.

1. Eligibility :

Any child up to the age of 12 years can open this account with his parent (Father/Mother) or legal guardian.

2. Initial Deposit :

An account can be opened with initial deposit:

  • In Rural & Semi Urban Branches: Rs. 50/-
  • In Urban & Metro Branches: Rs. 100/-

3. Minimum Credits & Balance :

There should be at least one credit in the account every month and the minimum aggregate credit in the account during each half-year should be as under:

  • In Rural & Semi Urban Branches: Rs.500
  • In Urban & Metro Branches: Rs. 1000/-

There is no restriction on number of deposits in this account.

4. Withdrawals :

Withdrawal is not permitted in this account till the child attains the age of 18 years, except for the purpose of making fixed deposit.

5. Issuance of Cheque Book :

No Cheque Book is allowed in this account till the child attains the age of majority.

6. Convertibility of Balance into Time Deposit :

In this account there is option available to convert balance in excess of Rs.10,000/- from savings Account to cumulative time deposit scheme, i.e. MMDC for a period of six months to maximum ten years depending upon the age of the child. The guardian can exercise this option any number of times.

7. Rate of Interest :

  • The Branches will allow the Savings Deposit Interest rate as per RBI guidelines from time to time, at present it is. @4.00% p.a. payable half yearly.
  • On Time Deposit made out from Bal Bhavishya Savings Account additional interest of 0.5% p.a. will be allowed over and above the card rates. This additional interest will be available only till the child attains the age of "majority" and thereafter normal rate will be paid

KYC Information


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Part I


Customer Information Form
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Part II


Deposit Account Opening Form
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