How to Open a Minor Account for Children in India?


Opening a bank account for a minor is not only a good idea but also it will teach your little one to understand the savings habit & to plan for their tomorrow as well. Do you know how to open a bank account? If no, then you are in the right place! Keep reading to know how to open a minor account for your child.

The procedure & rules for opening a minor/junior account is a bit different from a regular savings bank account process. However, opening a minor account is easy.

Know the complete process to open a minor savings bank account in India:

Required Documents & Prerequisites for a Minor Account

  • Birth Certificate– ID proof as well as Relationship proof with the parent
  • Relationship proof– it will be needed only if the bank asks for it. It is mostly asked when the guardian is not the parent
  • Address Proof- Ration Card or any other proof of the kid
  • PAN Card of the Parent/Guardian– Only if they will manage the account on behalf of the minor
  • Photographs– Some Banks asks for a photograph of the junior applicant

Important Rules for Junior Account in India

  • Minor Account is only opened for children below 18 years old. However, in a few cases, this age can be till 21 years old but when there is a special legal arrangement or court’s judgment
  • Minor’s parent/guardian should have an individual account in the same bank.
  • The Minor’s Account is jointly taken by the parent/guardian that means parent/guardian can operate it on behalf of the Minor but only if the minor is less than 10 years old. After the minor is above 10 years of age, then he/she will be allowed to use their account on their own.
  • The regular rules of a savings bank account are applied to the junior savings account also such as withdrawal limits, annual charges, and minimum balance.
  • ATM facility, Debit Card and Cheque Books are also provided for a Minor Account. But few banks do/do not provide either the ATM/Debit cards or cheque book.
  • Few banks also provide extra Life Insurance exclusively for the parent/guardian along with the minor.

The Process to Open a Junior Account in India

  • A regular account opening form is needed to be filled in by the parent/guardian. The kid will be the first holder & the parent/guardian will be a joint holder.
  • There will be a PAN details section that has to be filled in using the parent/guardian’s PAN card details.
  • Parent/guardian has to fill up a different form for their details.
  • The parent/guardian’s signature is used for all the account activities.
  • Photograph of minor may/may not be required but the photograph of parent/guardians is mandatorily required.
  • Some banks provide an online form Fill-Up procedure. In this, you will have to fill-up the online form on their website & get a printout, sign it and then attach a photograph & submit. Online Form submission is believed to be comparatively fast.

Once the junior account will be working, then you can do all the regular banking transactions. And if the minor is above 10 years, he/she can use the account with a withdrawal limit. When the minor becomes major, their signature will be confirmed, the latest photograph will be added and the status of the account will be changed to a regular savings bank account.

When it comes to savings & investments, it is always good to begin early in your life!!

So, it is an excellent idea to open a bank account for your little one in India!!!

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