IDBI Bank realized the importance of introducing a product specifically catering to this market. These days, parents' start saving money for their children right from the day they are born and by supporting this thought IDBI Bank has designed the “POWERKIDZ” account, cut for the needs of children.
It is a piggy bank for the Kids that will not just keep their money safe but provide an interest on the same, allow them to take out money when required, make smart purchases by way of exclusive debit card, teach them to operate their account in a better and convenient way and also advise them from time to time about better investment options.
Kids at a young age can start saving the amount received from parents/guardian into these account which will not just inculcate the habit of saving but also act as an instrument in guiding them into financial sector. Coupled with various training programs and with insight to various other products children can make better investment decisions in future. They can even have the benefit by availing education loan from IDBI Bank at a competitive interest rate for funding their higher education in India and Overseas.
IDBI Bank Power Kids Account Features and Benefits
 MAB of Rs. 500- No charges for non maintenance of MAB
- Exclusive designed Kids ATM Card*
- Withdrawal limits up to Rs. 2,000 at ATM / POS
- Personalized Cheque Book
- Free monthly statements via mail on request
- Free Passbook
- Demand Drafts and Pay orders on request
- Free five ATM transactions at other Bank ATMs at Non Metro Locations
Special Feature # |
Personal Accidental Insurance cover |
Free Insurance of Rs.2 lakh, on accidental death of guardian operating account on behalf of Minor.
The free accidental cover offered to customers will be withdrawn on Primary Account Holder attain Major Status as per bank records. |
Simple Documentation
List of documents required for Power kids accounts
- I S A of Guardian
- Minor Declaration to be signed by the Guardian
- Guardian's photograph and signature required on AOF
- Only natural guardians as per law are acceptable, otherwise guardian should be a person appointed by a court of law
- Only natural guardians as per law are acceptable, otherwise guardian should be a person appointed by a court of law
- Two Minors or two guardians not allowed in a minor account
- For Minor Date of Birth proof
• Birth Registration certificate
• Passport
• Report card showing DOB
• School ID card with Photo and DOB mentioned
- Authentication and Certification
• Minor Declaration to be signed by the Guardian
• All supporting documents to be signed by the customer i.e. self-attestation and the officer verifying the original documents
• If Minor above 10 years and he himself operates the account, his/her photo is required
• On attaining majority, the accounts will be frozen and the freeze will be removed only after submission of documents
How to Apply
To open Power Kids Account is very simple. Just call Phone Banking numbers or visit your Nearest Branch. Our representative will contact you at the earliest.
|
