Friday, April 16, 2021
  • About us
  • Contact
  • Privacy Policy
  • Contribute for us
  • Sitemap
Business Khabar
  • World
  • Latest News
  • Business
    • Automotive
    • Industries
    • Opinion
  • Market
  • Tech
  • Money
    • Finance
    • Insurance
    • Investments
    • Schemes
  • Startups
  • Other
    • Top Stories
    • Entrepreneur
    • Career
    • Real Estate
No Result
View All Result
Business Khabar
  • World
  • Latest News
  • Business
    • Automotive
    • Industries
    • Opinion
  • Market
  • Tech
  • Money
    • Finance
    • Insurance
    • Investments
    • Schemes
  • Startups
  • Other
    • Top Stories
    • Entrepreneur
    • Career
    • Real Estate
No Result
View All Result
Business Khabar
No Result
View All Result
Home Money Investments

How to open bank account for children below 18 years? Which documents will be required

Children's bank account can help parents in creating funds for them.

Nisha Chawla by Nisha Chawla
February 25, 2021
in Investments
0
how to open bank account for minors and kids of age less than 18 years know eligibility documents and all details
584
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

You might also like

TDS deducted on interest received on FD in bank, submit soon Form 15G / 15H; They have to submit this form

TDS on Dividend Income: If you do not have taxable income, how will you get relief?

Child Mutual Fund: Start SIP for children’s names, see what you will get as soon as you go through adult education with a monthly investment of Rs. 5000

How to open bank account for kids: Children’s bank account can help parents in making funds for them. With this, they can be taught how to manage money with it. Such accounts are called minor accounts. These accounts are for those who are under 18 years of age. Keeping savings money in this account can be spent on higher education, marriage etc. of children in future.

ADVERTISEMENT

Who can open an account?

  • A parent can open an account on behalf of a minor.
  • The parent can open a joint account with the minor.
  • A legal guardian can also open in the name of a minor.
  • A minor of 10 years or more can open in his name, which will be handled by him only.

Form

To open an account, only the account opening form has to be filled. In this, the name, home address, guardian details and signature will also have to be written.

Required documents

It is necessary to have these documents along with the form to open an account

  • Proof of date of birth of minor
  • KYC documents of the guardian
  • Minor’s aadhar card

Account handling

For a minor below 10 years, the guardian has to operate the account. However, children above the age of 10 years can operate the account themselves.

Being 18 years old

Once the minor’s age is 18 years, the account will have to be converted into a regular savings account. After this, the parent cannot operate the account on behalf of the account holder. For this, a minor person who has attained maturity. The application form has to be submitted along with its KYC details.

SBI Holiday Package: SBI is offering a chance to roam, will less worry about spending from holiday saving account

Keep these things in mind

Banks limit daily transactions on these accounts. With this, parents are allowed to have additional transactions on the minor’s account, so that they can take care of their children’s transactions.

Tags: bank accountBank account for childrenbank account for kidsbank account for minorbank account minor documentskids bank accountminor bank account
Nisha Chawla

Nisha Chawla

She is an expert in Banking, Finance and working with an international bank. She sharing her ideas and knowledge with Business Khabar.

Related Posts

TDS on fixed deposit interest Time to submit Form 15G 15H to your banker know here in details
Investments

TDS deducted on interest received on FD in bank, submit soon Form 15G / 15H; They have to submit this form

by Nisha Chawla
April 14, 2021
TDS if you do not have taxable income how to get relief
Investments

TDS on Dividend Income: If you do not have taxable income, how will you get relief?

by Nisha Chawla
April 13, 2021
children mutual fund
Investments

Child Mutual Fund: Start SIP for children’s names, see what you will get as soon as you go through adult education with a monthly investment of Rs. 5000

by Nisha Chawla
April 12, 2021
Planning for your child future Here are some quick tips
Investments

In this way, do financial planning for the future of children, there will be no problem from education to business.

by Nisha Chawla
April 11, 2021
what is investment portfolio and how to build it
Investments

What is an investment portfolio? How do you make it? Learn details

by Nisha Chawla
April 10, 2021

Recommended

Healthy Diet Habits

Research says these diet habits can always keep you fit and slim!

April 16, 2021
Losses are going to be more than what they earned after the lockdown, companies worry about 5 million smartphones!

Losses are going to be more than what they earned after the lockdown, companies worry about 5 million smartphones!

April 15, 2021
During the live meeting, a Canadian lawmaker, seen without clothes, hid 'respect' from mobile, again apologized

During the live meeting, a Canadian lawmaker, seen without clothes, hid ‘respect’ from mobile, again apologized

April 15, 2021

Don't miss it

  • All
  • Startups
  • Share Market
  • Entrepreneur
Healthy Diet Habits
Health

Research says these diet habits can always keep you fit and slim!

April 16, 2021
Losses are going to be more than what they earned after the lockdown, companies worry about 5 million smartphones!
Tech

Losses are going to be more than what they earned after the lockdown, companies worry about 5 million smartphones!

April 15, 2021
During the live meeting, a Canadian lawmaker, seen without clothes, hid 'respect' from mobile, again apologized
World

During the live meeting, a Canadian lawmaker, seen without clothes, hid ‘respect’ from mobile, again apologized

April 15, 2021
Bajaj launches CT110X bike with tremendous features in India, low price but good features
Automotive

Bajaj launches CT110X bike with tremendous features in India, low price but good features

April 15, 2021
After all, who is Zabir Motiwala?  Pakistan reports directly to Dawood, Pakistan arrived from London jail
World

After all, who is Zabir Motiwala? Pakistan reports directly to Dawood, Pakistan arrived from London jail

April 15, 2021
Now your watch will control this tremendous feature of the vehicle, is this technology in your car?
Automotive

Now your watch will control this tremendous feature of the vehicle, is this technology in your car?

April 15, 2021
If it is difficult to get passport, then follow this online method, work will be done immediately
Tech

If it is difficult to get passport, then follow this online method, work will be done immediately

April 15, 2021
Nothing cheaper than this, Bajaj Pulsar 150 is being available for only 36 thousand rupees, do not let the chance go by hand!
Automotive

Nothing cheaper than this, Bajaj Pulsar 150 is being available for only 36 thousand rupees, do not let the chance go by hand!

April 15, 2021
Business Khabar

Business Khabar provides the latest news about the market, financial, tech, sports and business news from around the world.

Learn more

Categories

  • Automotive
  • Business
  • Car & Bike
  • Career
  • Entrepreneur
  • Fashion
  • Featured
  • Finance
  • Food
  • Health
  • India
  • Industries
  • Insurance
  • Investments
  • Lifestyle
  • Money
  • Opinion
  • Real Estate
  • Schemes
  • Share Market
  • Startups
  • Tech
  • Top Stories
  • Travel
  • World

Important

JIOMART FASHION

BUSINESS PLAN

ATUM 1.0 BIKE

UPCOMING IPO

VEGETABLE BUSINESS

MARUTI UPCOMING CARS

BUSINESSMEN STORY

SANA DAWOOD LOVE STORY

BUSINESS AFTER LOCKDOWN

IPL COACH SALARY

CSC REGISTRATION

 

Recent News

Healthy Diet Habits

Research says these diet habits can always keep you fit and slim!

April 16, 2021
Losses are going to be more than what they earned after the lockdown, companies worry about 5 million smartphones!

Losses are going to be more than what they earned after the lockdown, companies worry about 5 million smartphones!

April 15, 2021
During the live meeting, a Canadian lawmaker, seen without clothes, hid 'respect' from mobile, again apologized

During the live meeting, a Canadian lawmaker, seen without clothes, hid ‘respect’ from mobile, again apologized

April 15, 2021

Copyright © 2020 Business Khabar

No Result
View All Result
  • Home
  • Larest News
  • World
  • Share Market
  • Business
    • Automotive
    • Industries
    • Startups
    • Entrepreneur
  • Tech
  • Money
    • Schemes
    • Investments
    • Finance
  • Lifestyle
    • Fashion
    • Food
    • Health
    • Travel
  • Reviews
    • Car & Bike
  • Top Stories
  • Real Estate
  • Contact Us
  • About us

Copyright © 2020 Business Khabar

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.