Planning for the future of your child is something that's always on your mind. We're here to help you make sure that your child's future is secure. Our Minor's Savings Account offers interest rates up to 5% so you can watch their funds grow.Read More
But that's not all. It also offers multiple features such as Unlimited Free Fund Transfers, free VISA Debit Card, Unlimited free ATM Transactions at IDFC FIRST Bank ATMs, and lots more. Secure your child's future with an IDFC FIRST Bank Minor's Savings Account.Read Less
Choose account balance
Number of years planned for savings
1 Year 50 Year
Choose your existing bank interest rate
2.5 % 6 %
What you earn with IDFC FIRST Bank Savings A/c -
What you currently earn with your existing bank -
What you can earn more with our bank -
IDFC FIRST Bank’s Minor Savings Account offers more than just industry-best interest rates, you also get the following benefits and much more.
· Free Visa Debit Card – When you open a savings account for your child, you also get a free Visa Debit Card which is valid for life.
· Unlimited Free Fund Transfers – Make hassle-free transfers with your IDFC FIRST Bank Minor Savings Account.
· Get up to 5% interest rate for your child
You can open a children savings account for children below the age of 18 years.
Yes, a parent's account has to be with IDFC FIRST Bank to open a Minor Savings Account. In case a parent does not have an account, both accounts can be opened together at the same time.
For Minor account with VISA Signature debit card: Initial payment cheque of min ₹25,000 in the name of the guardian or Standing Instruction of ₹2000 for 24 months
For Minor account with VISA Classic debit card: Initial payment cheque of min ₹10,000 in the name of the guardian or Standing Instruction of ₹1000 for 24 months
The minimum balance requirement is NIL for minor accounts.
Being one of the best bank for children’s savings accounts, we do not levy charges for non-maintenance of average monthly balance.
Yes, once the balance in the minor's exceeds ₹15,000, the amount in excess of ₹10,000 can be automatically transferred to a Fixed Deposit for tenure of 1 year and 1 day.
IDFC FIRST Bank's Minor Savings Account is our testament to putting our customers first. We offer 5% p.a on Minor Savings account.
What's more! You earn this interest on your entire balance, starting from the first rupee. That means you earn every single day. We payout this interest every 3 months.
Hurry! Make the most of this unique opportunity. Click here to know more.
Please note that interest rates are subject to periodic change.