Products
Pancha Children’s Savings
SDF strives to instill the savings habit in children from an early age, by making savings fun and rewarding. While children are often too young to appreciate the value of savings over the long term, SDF tries to retain children in the saving culture by providing attractive gifts, based on the value of their savings, and by engaging children in various children’s activities. SDF allows Pancha accounts, starting from a low value of Rs 1,000, to make children’s accounts accessible to a wider population. Parents are encouraged to open savings accounts for their children as an investment for their children’s future, be it for higher education, health, sports, or entrepreneurship.
Benefits and Features
Minor savings is an investment made on behalf of the child for future use for his/her education, health, sports & entrepreneurship.
Eligibility
• Account holder must be below 18 years of age
• An account can be opened in the name of the minor with the deposit of Rs.1000
• Funds cannot be withdrawn until the child is 18 years of age
Documents Required
• National Identity Card / Passport / Driving License of Parent or Guardian
• Birth Certificate of Minor
• Billing Proof
* Interest rates on Pancha savings deposits 4.5%
Terms and conditions apply.
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