Banking for Minors in India (2026): How to Open Your Child's First Account
Opening a bank account for your child is more than just a place to keep money—it’s a "Financial Learner’s License." Thanks to updated RBI guidelines, it is now easier than ever for Indian parents to give their kids a hands-on head start. The Magic Number: Age 10 In India, the rules change once a child turns 10: Under 10 Years: The account is opened and operated entirely by the parent or guardian. 10 to 18 Years: Students can often operate the account independently . They get their own debit card (with limits) and can even use net banking for small transactions. Top 3 Banks for Students in 2026: SBI (Pehla Kadam & Pehli Udaan): Great for reach and specialized features like customized cheque books. HDFC (Kid’s Advantage Account): Offers a "Money Maximizer" feature that moves extra savings into an FD automatically. ICICI (Young Stars Account): Known for its excellent mobile app experience for teens. What Documents Will You Need? Keep these ready to ensure a ...
