Can you tell me in detail about the Features and Benefits of SBI (State Bank of India) Savings Account for Junior/Minors as I want to get it for my children?

Pehla Kadam and Pehli Udaan as Savings Account for Minors by SBI or State Bank of India, are complete bunch of banking products, that not only help children learn the importance of saving money but also allow to test with the 'buying power' of money.

Features and Benefits of SBI Savings Account for Minors

• It offers two schemes for minors known as PehlaKadam and PehliUdaan.
• No minimum balance required.
• It can be opened jointly with parents or guardians.
• Transfer the account to any SBI Branch without changing the account number.
• Nomination facility available.
• Interest is calculated on the daily balance at 4% p.a.
• Photo ATM cum debit card with withdrawal/POS limit of Rs. 5,000.
• Specially designed branded passbook and cheque book issued free of cost.
• Smart Scholar - Child Plan can be availed with inbuilt premium waiver and loyalty additions to fulfil child's dreams.

Documents Required
• Date of Birth proof of the Minor
• KYC of the Parent

Fees and Charges

Issue of Pass book Nil

Duplicate Pass book/Statement Rs.112/- with latest balance

Balance enquiry Nil

Transfer of Account Rs.112/-(inclusive of postal charges).

Account closure
Within 14 days Nil
Upto 6 months Rs.337
6 - 12 months Rs.225

Inoperative account Nil

Transactions at State Bank Group ATMs Free

Transactions at Other Bank ATMs Free up to 5 transactions. After that, financial transactions are charged Rs. 17, and non-financial Rs. 6.

Funds transfer No intercore charges

State Bank of India Minor Account