“Foster the habit of savings today for a secured tomorrow.”
SIB Gen Next Kids savings account enables you to save for your kids and also inculcates the habit of savings in kids.
SIB GenNext
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PRODUCT ELIGIBILITY
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Product Name
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SIB Gen Next
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Eligible Age Group
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Day one to 18 years (All Minors)
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Mode of Operation
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· Day 1 to up to 10 years- Minor by natural guardian.
· 10 years and above- Self Operation/ Minor by natural guardian
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Minimum Required balance
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· Required AMB -Rs. 5000/-
· AMB condition is waived if parent is maintaining
Rs. 10000/- & above in their SB account
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PRE-REQUISITE
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Minor operated natural guardian
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Self-operated Account
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Guardian CIF ID
KYC documents of both Guardian and Minor
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Guardian CIF ID
KYC documents of both Guardian and Minor
Guardian Declaration Form (Click here)
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PRODUCT FEATURES
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Free Cheque Leaf
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10 Nos / Calendar Year in the name of child
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Outward RTGS/NEFT
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Free up to Rs.1,00,000/ Month
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Net Banking
(SIBerNet)
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NEFT – Free
IMPS – Free (Basis AMB maintenance of Rs. 50,000)
Transaction Daily Limits:
NEFT – 3 lakhs
IMPS – 2 lakhs
Note: Daily Limit can be extended up to Rs. 20 lakhs using debit card.
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Mobile Banking
(SIB Mirror+)
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NEFT – Free
IMPS – Free (Basis AMB maintenance of Rs. 50,000)
UPI – Free
Transaction Daily Limits:
NEFT – 2 lakhs
IMPS – 2 lakhs
UPI – 1 lakh
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Standing Instruction
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Free
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DIGITAL OFFERINGS
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Whatsapp Banking
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Free
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Internet/Mobile Banking
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Free
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Mobile & Email alerts
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Free
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IMPS
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Free*
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Online NEFT
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Unlimited
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INSURANCE
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SIB Suraksha Kavach
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Chargeable @ Rs.275/-
- Personal accident death cover for Rs. 10 Lac
- Personal accident hospitalizations cover for Rs.1 Lac
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DEBIT CARD/ CREDIT CARD
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Card variant
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Visa Classic NFC International Card
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ATM card Issuance Fees
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Free
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Debit Card AMC
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Free*
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SIB ATM limits
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Unlimited
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Other Bank ATM usage
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5 times/month
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ATM transaction Limits
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Daily Withdrawal Limit
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Daily Shopping Limit
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Rs.5,000/-
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Rs.10,000/-
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Tap and Pay
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Payment up to Rs.5,000/-.
5 such transaction per day on the card.
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Important :
- All the freebies are available in the account only on maintenance of required AMB.
- For Account Conversion: Please Contact your nearby branch.
- All kids account to be opened with an existing parent/guardian CIF ID only
- On attainment of 18 years, minor account will be put on debit freeze. Customer to produce their KYC documents along with Minor to Major Conversion Form at their nearest branch for seamless account operation.
- For other charges & conditions Click Here
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