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Product Details
Bank Name

Indian Bank

Account Name

IB Smart Kid

Account Type

Savings

Interest Rate

Up to Rs.10 lakh - 2.75%
More than Rs.10 lakh to less than Rs.200 Cr - 2.80%
Rs. 200 Cr and above - 2.90%

Free Debit Card

ATM/Debit card eligible for minors of age10 years or more to those who maintain the prescribed minimum balance and subject to consent by parents / guardian for issue of ATM debit card.

IB Smart Kid
Account Opening Fees

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Annual Maintenance Fees

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Minimum Account Balance

Rs.100/- average monthly balance for non cheque book operated savings bank accounts
Rs.250/- average monthly balance for cheque operated savings bank accounts

Debit Card Charges

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NEFT Charges

SB customers are waived from charges of NEFT online transactions

IMPS Charges

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Fees and Charges

IB Smart Kid

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Special Features
INSURANCE COVER ON DEBIT CARD Rs.2 LAKHS/
Eligibility Criteria
For children of age 1 day to less than 18 years. Single only for minor – by Father/Mother and guardian OR In the case of court appointed guardian – by guardian NO JOINT ACCOUNT CAN BE OPENED UNDER THIS SCHEME
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
MAXIMUM WITHDRAWAL AT OUR BANK Unlimited counts with a per day limit of Rs.50,000, Remittance by DD of school/college fees at par.
Cons
Very low interest rate
Application Procedure

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Product Review
Account Opening and Procedure
How to open an Account?
Application Procedure
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