How to Open Bank of Baroda Minor Account Online

Opening a savings bank account for children is important to introduce them to basic banking and finance principles from a young age. Continue reading to learn key aspects of minor accounts offered by Bank of Baroda its eligibility, features and the simple account opening process.

Quick Summary

• Savings account for children aged 0 to 18 years
• Zero minimum balance requirement
• RuPay debit card available for kids above 10 years
• Internet & mobile banking access for children aged 10+
• No charges on school fee payments
• Free one demand draft (up to ₹1 lakh) for fee payment
• Safe account with controlled transaction limits
• Easy account opening both online or offline
• No monthly maintenance charges

Bank of Baroda Minor Account

Bank of Baroda minor account is a dedicated savings account for children of the age between 0 to 18 years. This account helps little champs to develop savings habit from a very young age. You can easily open this account with zero minimum balance.

Bank of Baroda Champ Account Benefits

Bank of Baroda minor accounts offer useful services for children:

• No minimum balance required
• Zero charge on payment of school fees
• Free one DD for fee payment (maximum 1 lakh)
• RuPay debit card for kids of 10 years and above.
• Internet and mobile banking facility for kids of 10 years and above
• Facility of auto or reverse sweep with flexibility available

How to Open Bank of Baroda Minor Account Online?

Opening a minor account online is very convenient. It saves time and effort of visiting the branch. One can complete the process from the comfort of their home.

• Visit Bank of Baroda website

• Select 'Open account' option

• Choose 'Champ account'

• Fill the online application form
• Click on the checkbox
• Click on generate OTP
• Upload required documents
• Submit and bank executive will verify and activate the account
• Login credentials will be sent via email or SMS for internet banking
• Minor can now start learning financial skills through this account!

How to Open Bank of Baroda Minor Account Offline?

Opening a minor account through offline mode is also simple. Some may prefer visiting the branch for assistance.

• Visit nearest BOB branch
• Ask bank executive for minor account opening form
• Fill the application form
• Submit form with required documents
• Bank will verify documents and activate account
• You will get an OTP for login on registered number
• Minor account is successfully opened.

Fees and Charges

Here are the fees and charges on BOB champ account:

• No monthly account maintenance fee for children's accounts.
• Free debit card provided with certain transaction limits per month.
• Unlimited free transactions on BOB ATM
• Free One DD per month
• Balance inquiry and mini statement printout at ATM are free.
• No charge on online fund transfers to other linked accounts.

Documents Required to Open BOB Minor Account

Opening an account for a child requires some basic paperwork:

• ID and address proof of parent/guardian like Aadhaar, Voter ID, Passport.
• Child's Aadhaar or birth certificate as ID proof if Aadhaar not available.
• Recent passport size photos of child and parent/guardian.
• Address proof of parent/guardian like utility bill not older than 3 months.
• Form filled with minor's name and parent/guardian details.
• Signed parent declaration form confirming account opening for child.

Transaction limit of Bank of Baroda Minor Account

Banks keep certain limits on transactions in minor accounts for safety in order to control spendings. Here is the transaction limit of Bank of Baroda minor account-

• ATM cash withdrawal up to Rs. 3,000/day.
• Daily purchase limit on debit card of Rs. 3,000.
• Monthly spend cap of Rs. 10,000 using debit card.
• Limit cheques written to 2 per day.
• Online transfers restricted to Rs. 5,000/day.

Bank of Baroda Minor Account Opening Application Form pdf

Opening a minor account with Bank of Baroda is simple you just need to download the minor account opening form from the bank's website. The form is a single page document where basic details of the minor and guardian are collected. These include the minor's name, date of birth, parent/guardian name and details.

Fill the form and submit it to the nearest Bank of Baroda branch with all the required documents. Once submitted along with documents, bank verifies the details and open the minor account. Funds can then be deposited through the linked parent account.

Eligibility Criteria for Bank of Baroda Minor account

Opening a minor bank account with Bank of Baroda is simple. A guardian can help the young ones learn financial responsibility early. Here are the quick eligibility rules:

• Child must be under 18 years of age.
• Accounts can be opened for those between 10-18 years by themselves.
• For children below 10, the account must be jointly held with a parent or legal guardian.
• Transactions are monitored for the child's protection.
• Daily limits apply on withdrawals, transfers using cards/online banking.

Final Word

A Bank of Baroda minor account allows parents to inculcate savings habits in their child and empower them with banking skills for adulthood. While protecting funds through limits, it also rewards growing maturity. Overall, the account serves as a foundation for financial literacy from a developmental phase. Parents are encouraged to make the most of available resources to offer their ward a strong banking foundation.