Every parent is worried about the future of the children and provides them with all kinds of facilities and comfortable life. Well, for doing so financial planning is essential from the very beginning. By opening a bank account for children, parents can save big funds. Keeping the savings money in this account can be spent in future on children’s higher education, marriage etc.
The account opened for the children in the bank is called a minor account. Minor means a person who is less than 18 years of age. In India, most of the banks offer special account facilities for children. Today we will talk about the benefits of a Children’s account in HDFC Bank.
Who can open this account?
You can open a savings account for children in the leading private sector HDFC Bank. Super Kids Savings Account offers healthcare, shopping and educational benefits. If parents have a savings account with HDFC Bank, then they can open a Super Kids savings account in the name of the child. As per the website of the bank, if one’s bank account is not in HDFC Bank, then he/she will have to open it to open a Super Kids Savings Account. Besides, the quarterly average balance in the account should be Rs 1 lakh or FD should be maintained of Rs 4 lakh.
Benefits of Super Kids Savings Account:
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On opening a Super Kids savings account in the bank
- You will get an e-gift voucher worth Rs 5000.
- NetMeds voucher worth Rs 1000
- Apollo Pharma e-Gift Card worth Rs 1000
- MediBuddy membership voucher worth Rs 999.
- Apart from this, Hamleys-Gift Card / Myntra E-Gift Card / Firstcry E-Gift Card worth Rs. 1000 will be available.
Features of this account:
- If the parents die, then education insurance cover of Rs 5 lakh is available free of cost.
- With parents’ permission, an ATM or debit card is issued in the name of the child. Your child can withdraw a maximum of Rs 2500 per day from this ATM card and spend Rs 10,000 per day at merchants. Transactions from ATMs are absolutely free. E-statement is also available on email free.
- Super Kids Savings Account holder gets passbook free of cost.
- Easy banking facilities like Netbanking, PhoneBanking and MobileBanking are available. It allows the child to check their account balance, pay utility bills or even make further check payments through SMS.