ICICI Bank, the country’s largest private sector bank, has launched an account for minors above 10 years. The account, which will be opened in the name of the minor, will offer a personalised cheque book and a debit card with a picture his or her choice,” the bank said in a statement.
Minors will be able to undertake various banking transactions, including issuing cheques, paying bills, recharge mobile phones, open fixed deposits and recurring deposits, among others. They will also have access to banking channels such as ATM, mobile and Internet banking.
“We are pleased to offer the ‘Smart Star’ account, which allows minors to operate their accounts independently. This will help to inculcate a habit of saving and responsibility of spending wisely,” said Rajiv Sabharwal, Executive Director of ICICI Bank.
Bureau Report
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