Advantage Kids Account
Overview
IDBI Bank realized the importance of introducing a product specifically catering to this market. These days, parents' start saving money for their children right from the day they are born and by supporting this thought IDBI Bank has designed the “Advantage Kidz” account, cut for the needs of children.
It is a piggy bank for the Kids that will not just keep their money safe but provide an interest on the same, allow them to take out money when required, make smart purchases by way of exclusive debit card, teach them to operate their account in a better and convenient way and also advise them from time to time about better investment options.
Kids at a young age can start saving the amount received from parents/guardian into these account which will not just inculcate the habit of saving but also act as an instrument in guiding them into financial sector. Coupled with various training programs and with insight to various other products children can make better investment decisions in future. They can even have the benefit by availing education loan from IDBI Bank at a competitive interest rate for funding their higher education in India and Overseas.
IDBI Bank Advantage Kids Account Features and Benefits
- MAB – Rs. 5,000 (Metro & Urban), Rs. 2500 (Semi Urban), Rs. 1000 (Rural & Rural FI).
- Minimum Account Opening Amount/Initial Deposit should be equivalent to required MAB amount.
- Exclusive designed Kids ATM Card
- Withdrawal limits up to Rs. 5,000 at ATM / POS
- Personalized Cheque Book
- Free monthly statements via mail on request
- Free Passbook
- Demand Drafts and Pay orders on request
- Free five ATM transactions at other Bank ATMs at Non Metro Locations
Documentation
List of documents required for Advantage Kids Accounts
I S A of Guardian
Minor Declaration to be signed by the Guardian
Guardian's photograph and signature required on AOF
Only natural guardians as per law are acceptable, otherwise guardian should be a person appointed by a court of law
Two Minors or two guardians not allowed in a minor account
Birth Registration certificate
Passport
Report card showing DOB
School ID card with Photo and DOB mentioned
Minor Declaration to be signed by the Guardian
All supporting documents to be signed by the customer i.e. self-attestation and the officer verifying the original documents
If Minor above 10 years and he himself operates the account, his/her photo is required
On attaining majority, the accounts will be frozen and the freeze will be removed only after submission of documents
How To Apply
Get a Advantage Kids Account in 3 easy steps.
01. Get In Touch
Call on our Phone Banking numbers Toll Free -
1800-209-4324
1800-22-1070 (24x7 service)
03. Receive a Call Back
Our representative will contact you at the earliest.