PRODUCT NATURE

Basically an SB deposit for children

ELIGIBILITY

Children upto the age of 12 years (i.e. till 11 years, 364 days)

MINIMUM DEPOSIT

Initial deposit can be any nominal amount with a minimum of Rs.100/-. No penalty in case of non-maintenance of minimum balance.

RATE OF INTEREST

As applicable to SB deposits. Presently 4.00% per annum.

CHEQUE BOOK

Cheque books are not issued under the scheme

JOINT ACCOUNT

Joint accounts cannot be opened under the scheme

OTHER FACILITIES

q       Nomination facility is available

q       C-Net Banking facility is available (For viewing only)

q       Conversion of the account into regular SB account after the child attains majority

STIPULATION

A minimum of two credits in a half year aggregating to Rs. 500/- in Rural and semi Urban Branches and Rs. 1000/- in Urban and Metro Branches (Excluding interest) in order to be eligible for an Educational Loan as per the then prevailing Educational Loan Scheme.

SPECIAL FEATURE

q       Transfer of balance in the account, in excess of Rs.15,000/- for opening of Kamadhenu Deposit upon the request of the account holder.

SPECIAL OFFER, IF ANY

q       Loan eligibility card for educational loan as per the then prevailing educational loan scheme

q       Attractive Savings Box to cultivate the habit of savings among children

q       Attractive photo folder cum personal details with 16 pouches to store photos of the child and record memorable moments

q       Free collection of cheques/DDs gifted to the child upto Rs. 25,000/- per annum (In Indian Rupees or foreign currency)

APPLICATION & DOCUMENTS