Bold step/announcement by SBI - even minors can transact up to Rs. 5000/- daily!
Posted on: 16/Nov/2020 1:26:38 PM
The premier public sector of the country, the State Bank of India (SBI), has made a new announcement for savings accounts of minor citizens!
SBI has been making regular announcements regarding various offers and concessions as a measure to attract new customers and retain the existing. Indeed, these concessional offers have been of rat benefit to the customers! Presently, SBI has turned its focus on the Minor Accounts- the Savings Accounts for minor citizens under 18 years of age.
According to the recent announcement regarding the savings accounts of minor citizens, SB|I has introduced ATM cards with the photograph of the minor citizen. This ATM card, bearing the minor citizen’s photograph, will be issued to those opening a new account.
SBI has further announced that interest of 2.7% will be offered for this account. The minor citizen account holder can transact daily up to Rs. 5000/-.
State Bank of India has further explained this new facility has been announced mainly in order to facilitate the students avoiding direct visits to the bank/branch in order to withdraw the scholarship amount offered continuously on behalf of the government and also create a thorough awareness among the minor citizens regarding the procedures and other related details of the bank/accounts functioning with safety.
