How to Open SBI Minor Account Online?

Opening a savings bank account for a minor child is a great way to inculcate the habit of saving from a young age. Bank have special minor accounts which parent or guardian can open for their child. State Bank of India also offers minor account facility. Continue reading to learn about the key details of SBI minor account, including features, eligibility, application process.

Quick Summary:

• SBI Minor Accounts (Pehla Kadam & Pehli Udaan) offer zero minimum balance, ATM card, cheque book, mobile banking, and auto-sweep facility.
• Available for all minors (Pehla Kadam jointly with a guardian; Pehli Udaan independently for minors aged 10+ who can sign).
• Accounts can be opened online via YONO or offline at any SBI branch.
• No loan or overdraft allowed.
• Minimal Charges with free passbook, SBI ATM transactions.

What is SBI Minor Account?

SBI offers two unique savings accounts i.e. Pehla Kadam and Pehli Udaan especially designed for minors. These accounts are complete package of banking product which helps childern to learn the importance of saving and purchasing power of money.

SBI's minor account comes with several banking features such as Internet Banking and Mobile Banking. These features will not only familiarise youngsters with different modern banking channels but also educate them about personal finance.

SBI Minor Account Features

The key features of this account are outlined below:

• No monthly average balance is required.
• Cheque books available
• A photo ATM-cum Debit Card with a withdrawal limit of Rs. 5000
• Mobile banking is available with viewing rights and transaction limits of up to Rs. 2000
• Auto-sweep feature with a minimum threshold of Rs.20000
• Interest rate same as regular SBI savings A/C
• Easy account transfer to any SBI branch
• Nomination facility available

Eligibility Criteria for SBI Minor Account

• A Pehla Kadam account can be opened for any minor of any age. However, it requires a parent or guardian to open the account jointly.
• Pehli Udaan accounts can be opened by minors over 10 who can sign uniformly and are in the minor's sole name.
• Pehla Kadam is allowed jointly with parents or by parents singly. 
• Pehli Udaan can only be operated singly by the minor.

Also Read: Yes Bank Minor Account

How to Open an SBI Minor Account Through SBI Yono App?

Opening a savings account online for your child is simple and convenient. SBI provides a seamless process for opening a minor bank account without visiting the branch. Here is a step-by-step guide on how to open an SBI Minor Account Online:

• Download the SBI YONO app.
• Log in to the app with your credentials.
• Click ‘Open Savings Account. '
• Click on 'With Branch Visit. '
• Click apply now
• Click on open with Aadhaar card using e-KYC
• If you don't hold an Aadhaar card
• In that case, click on open with Officially Valid Document
• Click ‘Next’.
• Enter mobile number
• Click ‘Submit. ’
• Enter the OTP that you will receive on your mobile number
• Enter PAN.
• Fill out the required details in the application form
• Submit the form.
• Visit the bank branch and make sure to complete document verification.
• Once the verification is complete,
• Bank officials will open the account.

How to Open an SBI Minor Account Offline?

Follow these simple steps to open an SBI account for minor offline-

• Visit the nearest SBI branch with the minor (above 10 years)
• Make sure to carry the minor's identification and address proof
• Ask an official to provide an account opening application form.
• Fill out the account opening form with child and guardian details
• Attatch required documents
• Deposit initial amount
• Choose a nominee
• Complete document verification procedure
• The bank official will open the account

Fees and Charges For SBI Minor Account

Some standard charges are associated with essential banking services on a minor savings account. Below are the key charges that are related to the SBI account for a minor :

Documents Required For SBI Minor Account

Opening a savings account for a minor requires certain essential documents. Here are the key documents that need to be attached:

• Proof of Date of Birth of Minor
• KYC of Parents

Also Read: Indusind Bank Minor Account

Transaction limit of SBI Minor Account

• ATM withdrawal limit of Rs. 5,000 per day
• Mobile banking payment limit of Rs. 2,000 per day
• POS transaction limit of Rs. 5,000 per swipe
• No OD or loan facilities are allowed on this account

SBI Minor Account Opening Application Form pdf

The application process for opening an SBI minor savings account is simple. Applicants need to fill an account opening form providing basic details of the minor and guardian. SBI has made the application form for minor accounts available online for ease of opening an account. The form can be easily downloaded in PDF format by clicking here: https://retail.onlinesbi.sbi/sbi/downloads/new_account_opening_form.pdf. Duly filled form along with required documents can then be submitted to nearest SBI branch.

Conclusion

SBI has specially designed savings accounts for minors to develop financial literacy from a young age. The accounts offer functional banking facilities while maintaining safeguards for minor customers. Opening an SBI minor savings account is an excellent way to introduce children to banking and finances. It helps them learn valuable life skills of saving money and its proper usage.

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