SBI online payments, special cheque book, bank ATM card with your baby’s photo! Just check it out now

SBI online payments, special cheque book, bank ATM card with your baby’s photo! Just check it out now

State Bank of India (SBI) has launched two special accounts ‘Pehla Kadam’ and ‘Pehli Udaan’ keeping in view the needs of children nowadays. It also has the good aim of teaching banking and financial literacy to kids. Children will be able to make all banking transactions as well as use SBI online banking via these special accounts. The ‘Pehla Kadam’ and ‘Pehli Udaan’ accounts have been launched by SBI and these special accounts are designed only for children. They have a fixed spending limit and come with no monthly average balance (MAB) limit for account opening. The ‘Pehla Kadam’ and ‘Pehli Udaan’ accounts can have a maximum balance of Rs 10 lakh.

 Features of Pehla Kadam account

– The child will be issued a specially designed cheque book for this account. The cheque will have a child’s name on it and this cheque book will be given to children’s parents.

– The phone numbers of these bank account holders will also be a part of account details.

– Interestingly, there is a great personal touch! The child’s bank ATM card will have his/her photo and comes with a cash withdrawal limit of Rs 5,000 at a time.

– The account holder will be given the rights to transact such as Bill payment, Top ups. The limit for this transaction will be Rs 2,000

– Overdraft facilities on FDs will also be given

– The child will be issued a specially designed cheque book for this account. The cheque will have the child’s name on it and this cheque book will also be given to children’s parents.

– The child’s bank ATM card will have his/her photo and comes with a cash withdrawal limit of Rs 5,000 at a time. The account holder will be given the rights to transact such as Bill payment, Top ups.

– The limit of this transaction will be Rs 2,000 and this account will not have any overdraft facility.

Source:- zeebiz

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