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Home Personal Banking Deposits Young Savers Account

Young Savers Account

Get your kids saving and banking with ease.

ELIGIBILITY

  • Young savers account is opened by minor below the age of 18.
  • The account will be operated by parents/court appointed guardians.

INTEREST RATE

CLICK HERE to view the interest rate.

FEATURES

  • Service charges are not applicable
  • Proprietary Card for 15 years and above
  • Free passbook even for replacement or loss of passbook
  • FD-Multi option Deposit(MOD)
  • mBoB

REQUIRED DOCUMENTS

EligibilityDocuments Required
Young Savers Account✓ A Citizenship Identity Card photocopy of parents/guardian
✓ A copy of Health Card of the minor
✓ Two passport sized photographs of parents/guardian
✓ Two passport sized photographs of the minor
✓ Legal stamp
✓ Letter of undertaking by parent/guardian to be filled which is available at the BoB branch offices

DORMANT ACCOUNT

Savings Deposit Accounts are treated as dormant in case there is no operations i.e. debit or credit entry for 1 Year or more. Manual deposit will have to be made in order to activate the account.

ACCOUNT CLOSING

A depositor wishing to close his account can do so by surrendering the passbook and unused cheque leaves along with a written application to the Bank.

For further information, please contact our nearest branch.

Downloads / Links

Young Savers Account Opening Form Customer Information Form Claim Nomination Form