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National Helpline No1800 1700

IB Smart Kid

TARGET CUSTOMERS	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
KYC REQUIREMENT	As applicable to Normal Savings Bank account
NATURE OF OPERATION	With/Without Cheque facility
AVERAGE MONTHLY MINIMUM 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
CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE	Charges based on the amount of short fall in average monthly balance. Refer latest service charges notification.
CHEQUE BOOK	20 leaves free per calendar year
DD	Remittance by DD of school/college fees at par. Others chargeable
RTGS/NEFT	Free if done online.
ATM 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.
INSURANCE COVER ON DEBIT CARD	Rs.2 LAKHS
MAXIMUM WITHDRAWAL AT OUR BANK	Unlimited counts with a per day limit of Rs.50,000
MAXIMUM WITHDRAWAL AT OTHER BANK ATMs	Presently 3 withdrawals are free in Metro ATMs & 5 withdrawals if in Non-Metro including non-financial.
CONVERSION OF ACCOUNT INTO NORMAL SB	After the child attains majority (18 years of age), the account can be converted to regular SB deposit. Any cheques issued by Guardian prior to the date of the Customer attaining majority and which has been presented for clearing after the conversion of the Account shall not be honoured. Upon the Customer attaining majority, the Guardian shall not be permitted to operate the Account
NOMINATION	Available
INTERNET BANKING	It can be provided with the approval of the guardian. The Guardian is solely and exclusively bound by the terms and conditions for issue of the login password and the transaction password to the minor/ the Guardian/Parent as applicable and the Guardian /Parent further agrees, confirms and undertake that he is solely and exclusively liable and responsible for all charges/expenses/other monies incurred/due and payable on the Internet and debited by the Bank from the Account.
SERVICE CHARGES	As per latest service charges notification

( Last modified on Sep 22, 2025 at 09:09:01 PM )

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