Exclusive Privileges for Kids Savings Account Online - Kotak Bank

Exclusive Privileges for Kids Savings Account Online - Kotak Bank

Apply Now

Savings Account - Junior - The Savings Account for Kids - Kotak Mahindra Bank

Frequently Asked Questions

Which savings account is best for a child?

The Kotak Mahindra Bank Junior Savings Account is best for a child as it is specifically designed to teach your children the benefits of saving, while also providing a host of privileges across dining, edutainment and shopping on kids’ brands.

Was this information helpful to you? Yes No

Can I open a savings account for my child?

Yes, you can open a child savings account for your children. Age of the child should be below 18 years(Minor) and he/she should be a resident whereas guardian can be resident or NRI.

Was this information helpful to you? Yes No

How do I open a kids account?

Sr. No.	Name of the Document (valid)	Identity Proof	Address Proof
1	Passport	Yes	Yes
2	Driving Licence	Yes	Yes
3	Aadhaar (Post e-KYC authentication by Bank)	Yes	Yes
4	Voter Id	Yes	Yes
5	Job Card issued by NREGA	Yes	Yes
6	Letter issued by National Population Register	Yes	Yes

Was this information helpful to you? Yes No

Can a 1 year old have a savings account?

Yes, a 1 year old child can have a minor savings account. This account needs to be operated jointly by the guardians / parents until the child is 18 years old.

Was this information helpful to you? Yes No

How many savings account can a child have?

A child can open only one Junior Savings Account

Was this information helpful to you? Yes No

What is the minimum balance in kids account?

NMC waiver is available on bundled offering applicable only for Kotak Junior proposition as long as the Recurring Deposit or Systematic Investment Plan (SIP) is active, else Average Monthly Balance (AMB) basis account variant need to be maintained to avoid charges of non-maintenance of AMB.

The waiver will not be applicable in case of failure in execution of the SI set towards RD/ SIP, due to insufficient funds in the Junior Account

Was this information helpful to you? Yes No

What is the limit of minor account?

The Junior Savings Account Debit card limit is Rs.5000 for POS and ATM for juniors who are above 10 years of age

Was this information helpful to you? Yes No

What are the rules for a minor bank account?

To apply for Kotak Mahindra Junior Savings Account, the child should fulfill below criteria:

Age of the child should be below 18 years(Minor)
Minor should be resident
Guardian can be resident or NRI

Click here to know the eligibility for kids savings account

Was this information helpful to you? Yes No

What are the exclusive benefits of Junior Savings Account?

Personalized Debit card, exclusive offers and discounts on dining, edudainment, and shooping, access to extraordinary workshops and events, RD/SIP based annual maintenance charge waiver and a cheque book are some of the exclusive benefits of Junior Savings Account

Was this information helpful to you? Yes No

What is the minimum Average Monthly Balance (AMB) requirement for a Junior Savings Account?

The minimum Average Montly Balance requirement of the Junior Savings Account will be applicable as per Savings Account Variant

Was this information helpful to you? Yes No

Engagement Board

Related Articles

how-to-start-saving-for-your-childs-education

investing-in-your-childs-future-Its-good-to-have-problem-of-plenty

is-securing-your-childs-future-a-childs-play