Account types
Savings Account for Minors & Kids
Open a savings account for a child — guardian-operated vs self-operated (above 10 years), documents, limits and conversion at 18.
Updated 29 September 2026 · 26 banks trackedBest effective rate on ₹10 lakh
5.65%
IDFC FIRST BankWhat you need to know
Banks offer minor savings accounts operated by a parent or guardian. Under RBI directions issued in April 2025, minors above 10 years can open and operate savings and term deposit accounts independently, with limits the bank sets. When the child turns 18 the account is converted to a regular account after fresh KYC and signature.
Key rules
| Point | Details |
|---|---|
| Below 10 years | Operated by guardian |
| Above 10 years | Can operate independently within bank-set limits (RBI, 2025) |
| Documents | Birth certificate / Aadhaar of child + guardian KYC |
| Facilities | Debit card, net banking with limits; no overdraft |
| Tax | Interest clubbed with the parent’s income (₹1,500 per child exempt) |
| At 18 | Convert to major account with fresh KYC |
Frequently asked questions
Can a minor get a debit card?
Yes, many banks issue debit cards with daily limits to minors above 10.
For information and comparison only. Confirm rates, charges and rules with your bank.