Skip to content
Sunday, April 11, 2021
Latest:
  • CABB gmbH: Chemical & Custom Company Free Info
  • Orlen Group: Free Company Information
  • Ashley Furniture Industries: Free Info Of The Company
  • Unisource Worldwide Company’s Free Information
  • Pacific Rubiales Energy: Free Company Information
Dcresource

Dcresource

Digital Word Stock

  • BANKING & SAVING
  • COMPANIES
  • CURRENCY
  • ECONOMY
    • FINANCES
    • INCOME
    • INVESTING
  • INDUSTRY
  • LOANS
  • NEWS
    • Technology News
    • Education
  • REAL ESTATE
  • STOCKS
BANKING & SAVING 

SBI zero balance savings account for children: 5 things to know

November 29, 2019December 1, 2019 Loknath Das 5%, account, balance, Children, for, know, Savings, SBI, things, to, Zero

State Bank of India (SBI) has introduced Pehla Kadam and Pehli Udaan savings account for minors. “Pehla Kadam and Pehli Udaan (PKPU), are complete bouquets of banking products, that will not only help children learn the importance of saving money but will also allow them to experiment with the ‘buying power’ of money,” the SBI official website says. One also doesn’t need to maintain Monthly Average Balance (MAB) for both accounts. There are certain advantages of Pehla Kadam and Pehli Udaan savings account like photo embossed ATM-cum-debit card, auto sweep facility and internet banking facility.

View image on Twitter

Here are some of the important features of SBI’s Pehla Kadam and Pehli Udaan savings accounts:

1) Eligibility

Pehla Kadam: A minor of any age can open this account, but it has to be jointly opened with the parent or guardian.

Pehli Udaan: This account can be opened in the sole name of the minor above the age of 10 years who can sign uniformly.

2) Transaction limit

Both the accounts have a transaction limit of ₹ 5,000 per day, in case of internet banking, and of ₹ 2,000 with mobile banking. One can make bill payments, inter-bank funds transfer (NEFT only), get demand drafts and open e-term deposits from these accounts.

3) Interest rate

The interest rate on Pehla Kadam and Pehli Udaan is similar to savings bank account. For savings deposits balance less than ₹1 lakh, SBI offers an interest rate of 3.25%. On balance over ₹1 lakh, it offers an interest rate of 3%.

4) ATM-cum-Debit Card

Pehla Kadam: Child’s photo embossed ATM-cum-Debit Card with withdrawal/POS limit of ₹ 5,000 will be issued in the name of the minor and guardian.

Pehli Udaan: Photo embossed ATM-cum-Debit with withdrawal/POS limit of ₹ 5,000 will be issued in the name of the minor.

5) Chequebook facility

Pehla Kadam: Personalised chequebook (with 10 cheque leaves) will be issued to the guardian in the name of minor under guardian.

Pehli Udaan: Personalised chequebook (with 10 cheque leaves) will be issued if the minor can sign uniformly.

[“source=livemint”]

  • ← Maharashtra’s politics is a mess, but its finances aren’t
  • Argentina’s currency controls: Tough lessons and tough decisions →

ECONOMY

ECONOMY 

UK economy flatlines in run-up to general election

December 10, 2019 Loknath Das

Manufacturing output shrank for the seventh month in a row according to the ONS measure of how much industries add

‘$5tn economy goal needs well-conceived strategy’
ECONOMY 

‘$5tn economy goal needs well-conceived strategy’

September 8, 2019 Loknath Das
Will Tariffs Push U.S. Economy to the Brink of Recession?
ECONOMY 

Will Tariffs Push U.S. Economy to the Brink of Recession?

August 27, 2019 Loknath Das
Raghuram Rajan issues warning alert for Modi govt on economy
ECONOMY 

Raghuram Rajan issues warning alert for Modi govt on economy

August 21, 2019 Loknath Das

LIVE STOCK EXCHANGE

Market Data by TradingView

Recent Posts

  • CABB gmbH: Chemical & Custom Company Free Info
  • Orlen Group: Free Company Information
  • Ashley Furniture Industries: Free Info Of The Company
  • Unisource Worldwide Company’s Free Information
  • Pacific Rubiales Energy: Free Company Information

Categories

  • BANKING & SAVING
  • COMPANIES
  • CURRENCY
  • ECONOMY
  • Education
  • FINANCES
  • INCOME
  • INDUSTRY
  • INVESTING
  • LOANS
  • NEWS
  • REAL ESTATE
  • STOCKS
  • Technology News
  • Uncategorized

Like Us On Facebook

Facebook Pagelike Widget
Copyright © 2021 Dcresource. All rights reserved.
Theme: ColorMag by ThemeGrill. Powered by WordPress.