How To Open A Bank Account For Minors In India? All You Need To Know | Savings and Investments News

Last Updated:July 08, 2025, 17:44 IST

In India, most banks offer minor accounts with features tailored to kids’ needs. Here’s everything you need to know.

Bank account is one of the most essential requirement for various financial services in India. Various government schemes also now requires a bank account, including government scholarships. In India, most banks offer minor accounts with features tailored to kids’ needs. Here’s everything you need to know.

Eligibility to Open a Minor Bank Account

Bank accounts can be opened for any Indian citizen under 18 years of age. However, there are two broad age categories:

• Children below 10 years: The account must be jointly operated with a parent or legal guardian.
• Children aged 10-18 years: Minors in this age group can operate the account independently, with some limits and parental supervision.

Types of Bank Accounts for Minors

There are two main types:

1. Joint Account (with Guardian):

• For children below 10 years
• Guardian manages the account until the child turns 18

2. Minor’s Independent Account:

• For children aged 10 years and above
• Can operate account on their own (withdrawals, ATM use, limited online banking)

Documents Required

For the Minor:

• Birth certificate or passport (for age proof)
• Aadhaar card
• Passport-size photograph

For the Parent/Guardian:

• Aadhaar card/PAN card (ID and address proof)
• Passport-size photograph
• Relationship proof (if not evident from documents)

How to Open a Minor’s Bank Account?

1. Visit the Bank Branch (Offline Method):

• Go to the nearest branch of the preferred bank
• Fill out the minor account opening form
• Submit required documents and photographs
• Choose features (like ATM card, net banking)
• Signatures of both guardian and minor (if 10+)
• Account is activated in 2–5 working days

2. Online Method (Available at Select Banks):

• Visit the bank’s official website
• Choose ‘Open Minor Account’ or similar option
• Fill in the form and upload scanned documents
• You may still need to visit the branch for KYC verification.

Benefits of Opening a Bank Account for Children

• Builds saving habits from an early age
• Introduces basic money management
• Helps them understand digital banking
• Encourages goal-based saving (toys, books, hobbies)
• Opportunity to earn interest on their savings

Rules for Withdrawals, ATM Cards & Online Banking

• ATM withdrawal limits: Usually Rs 2,500 to Rs 5,000 per day
• Internet banking: Mostly view-only access or limited transactions
• No cheque books (in most cases for minors below 18)
• Guardian consent is required for certain transactions
• Debit cards are issued only with parental approval.

What Happens When the Minor Turns 18?

When the child becomes a legal adult (18 years):

• The account must be converted to a regular savings account
• KYC documents of the now-adult individual will be required
• Guardian’s authority on the account ends
• A new account number may be issued in some banks

Banks usually notify you in advance when the conversion is due.

FAQs for Parents

Q1: Can I open an account for a newborn?

Yes, but the account will be fully operated by the parent or guardian.

Q2: Is there any minimum balance requirement?

Most minor accounts are zero balance or have very low minimum balance needs.

Q3: Can minors get a debit card?

Yes, children aged 10 years and above can get a debit card with withdrawal limits, subject to parental approval.

Q4: Can the account be linked to a UPI or mobile app?

Some banks offer view-only or limited functionality on mobile banking for minors.

Q5: Are there tax benefits for deposits made in minor accounts?

Interest earned in a minor’s account may be clubbed with the parent’s income and taxed accordingly.

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