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How To Open A Bank Account For A Child – Junior Savings Account For Minors

Published on: 27 June , 2018 | Ekta

We as parents want our kids to know everything. This is probably because we are fearful that in the excessive competition not knowing enough can be a setback for them later on. Money as a concept is explained to the children in early classes itself. But as parents explaining money and its usage and importance to them is something that we all must do. One appropriate way of doing that is to help them open a bank account for themselves. So, How To Open A Bank Account For A Child - Junior Savings Account For Minors? If you are also planning to open bank accounts for minors we here are going to explain the procedure of doing so.

Documents required to open a minor bank account

  • Birth certificate which will serve as a relationship proof with you.
  • Aadhar card to be the ID proof of the child.
  • Pan card of the parent who will be handling the account along with the child.
  • Photographs of the child.
  • A relationship proof in case the guardian is not the parent of the child.

Basic rules that need to be followed

If you want to know how to open a bank account for a child you ought to know the below -
  • A kid’s bank account can be opened for a child less than the age of 18. However, in certain special cases, the age requirement may be extended to 21 years.
  • The parent of the child must hold a separate account in the same bank.
  • The account would be operated as a joint one between the parent and the child till the time the child attains the age of 10. After that, the child is given the permission to access the account on his own.
  • All the regular savings bank account rules with respect to withdrawal rules, minimum balance and yearly charges would apply to a child bank account with a debit card as well.
  • ATM/ Debit cards and minor account chequebook would be provided to the child once he opens the account. However, some bank may not do so and you will have to confirm the information before applying for a minor bank account.
  • The bank may also provide life insurance to the parent/guardian to protect the interest of the child in case of any unfortunate happening.

How to open a bank account for a child

  • Firstly explain to your child all about opening a bank account and it’s importance in the present scenario. Next, explore and find out which is the best bank for children's savings accounts in India and shortlist the ones for which the account opening procedure is simple and convenient.
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Best Bank To Open Savings Account For Child

Open Child Account In SBI with 0 balance - SBI Pehla Kadam (Minor Of Any Age) & Pehli Udaan (Minors Above 10Years) Kotak Child Account - Kotak Junior Savings Account HDFC Minor Account - HDFC Kids Advantage Account Axis Bank Junior Account - Axis Future Stars Saving Account ICICI Minor Child Account with Debit Card - ICICI Young Stars Account Citibank Junior Account - with best investment plan for new born babies.
  • If you want to know how to open a bank account for minors, do your bit of research and find out which bank suits your requirements the most. There would be many banks which may have minor bank account rules with regards to the amount of balance that you are holding in the account. Avoid a bank which charges you for low bank account balance as that may dampen the spirits of your child. Apart from that, there would be banks which offer a child account program and you can get an insurance policy for the child as part of the program.
  • Fix up an appointment with a bank’s officer so that he can discuss and let you know all the implications of opening a kid’s bank account. It is better to come prepared with all the documents required to open a minor bank account. In case all your documents are complete the procedure of opening a bank account can be initiated there itself.
  • An account opening form needs to be filled by the parent or guardian and the child. In the form the child’s details would be mentioned as the “first holder” and the parents/guardian’s details would be listed as “joint holder”. Whatever paperwork you fill it is important that you read it out to your kid and make him understand what it means for him. This is important to inculcate a sense of financial freedom for your child.
  • Mention the parents “PAN card” details in the section provided. As per minor account RBI guidelines, it is mandatory to provide this information. It is crucial that all the information you are entering is true as per your knowledge else your application might get rejected.
  • In a separate form, it is required for the parents to fill all their information as well. Here you would have to attach all your documents as well. You may also have to see if there is any clause which can be misleading and hence prove to be a problem later on. It is wise to discuss this first with the relationship manager from the bank.
  • As per minor account rules, the parents/guardian’s would have to sign on the form. Also, they need to submit their photographs to the bank. The bank may or may not ask for the child’s photographs. You can consult with the bank about the exact rules with regards to that.
  • Most banks these days have an online form filling procedure. You can also fill the form to open a junior account in a bank online, take a print of the same and submit it along with the necessary documents in the nearest branch of the bank. In case any of your documents are wrong or if there is any additional documentation needed you may be asked to come back with them.
  • Lastly, you will have to fund the joint account with a minor. You can do so by providing a cheque with the required amount to the bank. Mostly if everything works out fine your minor kid’s bank account would be opened without any major impediments.


For many parents who wonder - How To Open A Bank Account For A Child - Junior Savings Account For Minors, this is not as difficult a task as it seems. If you want your child to learn how to deal with money you can open savings accounts for minors. Find out the best minor bank accounts before proceeding with the actual process of the same. Once you complete all the necessary process it won’t take much time for your child to learn how to operate it. Always make sure to be a part of his learning process in the initial phase of doing so otherwise, he may make errors which would be difficult for you to rectify. Once he gets comfortable your child would be ready to take his first step towards being financially independent. It May Also Interest You To Read On - How To Plan Finances For Your Kids
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A doting mom to an angel, Social Media Specialist & Professional Blogger. She loves to share her thoughts with other parents in the same turbulent boat. She absolutely loves & adores her family & is learning to strike a good work-life balance. When she is not writing, cooking or busy taking care of her toddler, she probably is dancing to some good desi music!

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