IDFC FIRST Bank Minor Saving Accounts

Start saving for your beloved minor and watch your funds flourish with time.

fdhd
 Media1
Earn Upto 7% Interest Rate On Savings Account
Media2
Boost your child’s confidence
Media3
Watch money grow
Sweep out option when you need

Minor's Savings Account With Signature Debit Card

  • Free ATM Transactions at any bank and on any network
  • Transfer your funds any number of times for free
  • A free Visa debit card with every account valid for life
  • Minimal and transparent charges

APPLY NOW

Minor's Savings Account With Classic Debit Card

  • Unlimited free fund transfer
  • Free Visa Classic Debit Card for life
  • Minimal & Transparent Charges

APPLY NOW

Interest rates like never before on your savings account

Balance in ₹
<= 1 Lac
> 1 Lac <= 1 Cr
Rate of Interest (% p.a.)
6.00%
7.00%
(Effective from 19/10/2019), Refer FAQs for more details.

Eligibility

  • A Minor Savings Account can be opened for your child as long as your child is up to 18 years of age and you (the parent or guardian) hold a Savings Account with the bank.
  • If you do not have a savings account with IDFC FIRST Bank then you will need to open one, before you open a Minor’s Account.

Documentation

  • To open a Minor’s Savings Account for your child, you need to have a Savings Account with us.
  • You must also provide a passport size photograph and the proof of your child's date of birth.
X
Fees & Charges Check the fees & charges applicable
for different types of accounts
Contact Us Need to get in touch with us,
check the various modes of connecting with us

Frequently Asked Questions

What is the age criterion for opening minor savings account?

Minor account can be opened for children below the age of 18 years.

What are the operating instructions applicable on minor account?

Minor above 10 years, can open self-operated account or under guardianship account. For minor below 10 years account can be operated only through guardian.

Is it mandatory to open parent's account with IDFC FIRST Bank, prior to opening minor account?

Yes, parent's account has to be with IDFC FIRST Bank to open a Minor’s Account. In case parents do not have an account both accounts can be opened together at the same time.

What is the initial pay in amount required for opening a minor account with IDFC FIRST Bank?

An initial pay-in of Rs. 25,000 is required to open a minor account with IDFC FIRST Bank

What is the minimum balance required to be maintained in a minor account?

The minimum balance requirement is NIL for minor accounts; however a standing instruction from the parent's account to the minor’s account for a period of 2 years with minimum amount as Rs 2,000 per month is mandatory. More means your child saves more!

What are the charges levied for non-maintenance of average monthly balance (AMB)?

No charges are levied for non-maintenance of average monthly balance.

Will there be an option to transfer excess funds available in minors account to Fixed Deposit and earn higher rate of interest?

Yes, once the balance in the minor's exceeds Rs. 15,000, the amount in excess of Rs. 10,000 can be automatically transferred to a Fixed Deposit for tenure of 1 year and 1 day.

Know more about IDFC FIRST Bank Savings Account Interest Rates

IDFC FIRST Bank's Savings Account is our testament to putting our customers first. We offer one of the industry’s best savings account interest rates at 7% p.a. for Rs 1 lac+ balance, starting at an assured interest rate of 6% p.a.

What's more, you earn this interest on your entire balance, starting from the first rupee. That means you earn every single day. We pay out this interest every 3 months.

Hurry and make the most of this unique opportunity. Click here to know more.

Please note that interest rates are subject to periodic change.

VIEW ALL FAQS

X
X

Contact us

REGISTERED office:

IDFC FIRST Bank Ltd

KRM Tower, 7th Floor, No. 1,
Harrington Road, Chetpet,
Chennai - 600031, Tamil Nadu,
India

Corporate office:

IDFC FIRST Bank Ltd

Naman Chambers,
C-32, G-Block,
Bandra-Kurla Complex,
Bandra East, Mumbai - 400051,
India

IDFC FIRST Bank Customers

Toll Free No - 1800 419 4332
Email - Banker@idfcfirstbank.com

Capital First Customers

Toll Free No - 1860 500 9900
Email - Customer.Care@Capitalfirst.Com

X

For Media Contact

X

For Media Contact

X