Any school going child from the age of 5 and above. The account will be in the name of the student represented by guardian.
Initial Deposit – Rs.100/-
Beautiful Deposit box will be provided to the student at the time of opening of the account. The box will have lock and key. Key will be kept at the branch / collection agent. The telephone numbers of the collection agents will be provided to the account holder. Whenever they desire to deposit, the box can be brought to the branch or give a call to the collection agent, open the box in the presence of the depositor and deposit the amount in the account.
Period of deposit will be maximum 1 year and the account can be continued till they desire.
Rate of Interest will be 3 1/2 % Per annum on daily product basis.
Withdrawals will be allowed on declaration from the guardian that the withdrawn amount will be utilized for the purpose and benefit of the minor student. Even after withdrawal of partial amount, the account can be continued. The exact date of launch of the scheme will be intimated soon on receipt of the boxes.