Product Details
Bank Name
Indian Bank
Account Name
IB Smart Kid
Account Type
Savings
Interest Rate
Up to Rs.10 lakh - 2.75%
More than Rs.10 lakh to less than Rs.200 Cr - 2.80%
Rs. 200 Cr and above - 2.90%
Free Debit Card
ATM/Debit card eligible for minors of age10 years or more to those who maintain the prescribed minimum balance and subject to consent by parents / guardian for issue of ATM debit card.
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Account Opening Fees
Debit Card Charges
Annual Maintenance Fees
NEFT Charges
SB customers are waived from charges of NEFT online transactions
Minimum Account Balance
Rs.100/- average monthly balance for non cheque book operated savings bank accounts
Rs.250/- average monthly balance for cheque operated savings bank accounts
IMPS Charges
Fees and Charges of
IB Smart Kid
IB Smart Kid
Special Features
INSURANCE COVER ON DEBIT CARD Rs.2 LAKHS/
Eligibility Criteria
Benefits
Features, Eligibility and Benefits of
IB Smart Kid
Pros & Cons of
Pros
Unlimited withdrawls at own bank ATM with a per day limit of Rs.50,000.
Remittance by DD of school/college fees at par.
Insurance cover on debit card of INR 2 Lakh for free.
Cons
IB Smart Kid
IB Smart Kid Review
The account comes with low interest rate and offers minimal value add features.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai