AU Small Finance Bank Kids Savings Account vs HDFC Bank Savings Account

Interest Rate

Up to 7% p.a
3.00% - 3.50% p.a.

Minimum Balance

NIL
Rs. 10,000 for Urban branches; Rs. 5,000 for Semi Urban branches; Rs. 2,500 for Rural branches

Monthly Average balance

NIL
Rs. 10,000 for urban branches; Rs.5000 for semi-urban branches; Average quarterly balance of Rs. 2500 or FD of Rs.10,000 for minimum 1 year 1 day for rural branches

Features

* There is no account balance non-maintenance charges

* Get all the banking transactions and other service requests executed from the Video Banking facilities

* Easily set up a recurring fund transfer facility to the kid’s account

* 24x7 Banking: Use AU 0101 App / NetBanking and Phone Banking

* Customize card's limits

* Extended banking hours

* No deposit slip is required for depositing the funds in your child's account 

* Enhanced insurance coverage: Avail multiple insurance benefits such as card liability insurance, purchase protection, and personal accident cover

Sweep-In/Email and SMS Alerts

E-Statement

Payable-at-par Chequebook

BillPay

NetBanking and MobileBanking

ATM facility

Documents Required

* Account application form filled with your child as the first account holder and you as the joint holder or guardian
* Passport size photographs of both the applicants
* Both applicant's: PAN Card, passport, voter ID, etc.
* Both applicant's: Aadhaar Card, telephone bill, passport, etc.

 

* A filled-up application form

* Passport, Voter ID card, PAN card, Permanent Driving license, Aadhar card, NREGA job card, or ID card issued by central or state governments, PSUs, scheduled commercial banks

* Employment Proof

* Latest passport size photographs


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