PNB Junior SF Account


To offer an attractive Saving Fund Account to minor.


Account can be opened by a minor of any age through his/her natural or legally appointed guardian. Minors above the age of 10 years (on obtaining satisfactory proof of age) are allowed to open and operate savings bank accounts independently, if they so desire. The account will be opened on compliance of Know Your Customer (KYC) Guidelines, execution of Account Opening Form and other requisite formalities, viz., photographs, identity and address proof, etc.

Initial Deposit and Minimum Balance Requirements:


Features of the scheme:

Particular Concessions/freebies
Minimum Quarterly Average Balance (QAB) Zero
Initial Deposit Zero
Free Cheque leaves 50 cheque leaves per year
NEFT charges Free upto Rs.10,000/-per day
Issue of Demand Drafts Free for school/college fee
Issue of ATM/Debit Card (Rupay) Allowed subject to debit upto Rs.5000/- per day
Internet Banking Facility Allowed-only view facility
Mobile Banking Facility Allowed-only view facility
On attaining majority revised instructions/ signature & a/c will be converted to “SBGEN”. No overdraft facility
Charges for not maintaining QAB Not Applicable
Ledger Folio Charges NIL
Intersol transactions including cash withdrawal/deposits Free

Withdrawal of Freebies

  • To arrest the misuse of Minor Accounts, all the concessions and freebies under the scheme shall be withdrawn after attaining the age of 18 years.
  • A mandate/authorization letter is to be taken from student at the time of opening of account under aforesaid scheme, stating that after attaining the age of 18 years, the concerned student account shall be automatically changed to General Category Saving Fund Account. The mandate/authorization letter is placed at ANNEXURE - A which shall form an integral part of the AOF.
  • Cessation Date is to be filled at the time of opening of account itself. The date/year when the student is likely to exit the Institution or the date when the student attains the age of 18 years be obtained along with proper proof.
  • Once the minor account is changed into general SF account, the special freebies/concessions in PNB Minor scheme as per existing bank guidelines shall be withdrawn and charges as applicable in normal Saving Fund account shall be levied in the account.
  • Overdraft Facility: Not Allowed
  • Nomination: Allowed

Other Terms & Conditions

  • Existing SF customer may opt for this product subject to fulfillment of eligibility criteria.
  • The additional facility of internet banking, mobile banking & ATM/debit card are offered only to the minors in the self operated accounts i.e. minor of 10 years & above by taking the liberty given to Banks by Reserve Bank of India.
  • On attaining majority, the erstwhile minor should confirm the balance in his/ her account and if the account is operated by the natural guardian / legal guardian, fresh operating instructions and specimen signature of erstwhile minor should be obtained and kept on record for all operational purposes.
  • In case independent operation in the account by the minor, fresh signatures of the account holder be obtained after attaining the majority as presently done in the minor accounts operated under guardianship.
  • While opening account of a minor customer irrespective of his/her age, capturing CIF of his/her guardian in Related Person detail is mandatory.
  • A system generated letter will be sent to minors one month prior to becoming major for completing the formalities. A SMS will also be sent if mobile number is registered in the account.
  • On attaining majority, the account will be converted to SF general account or as per option of the customer subject to eligibility criteria under the product.
  • The guidelines issued by the concerned Division for the facilities provided in the product must be strictly adhered to i.e. the matter related to issuance of debit card, internet banking, mobile banking facilities etc.
  • All other service charges except the relaxations given above will be levied as per Bank’s schedule of service charges as applicable from time to time.
  • All other terms and conditions applicable to minor customer under Saving Fund Product issued by bank from time to time will be adhered to.
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