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State Bank of India on Friday launched two new Savings Bank products — Pehla Kadam and Pehli Udaan — for children.
Pehla Kadam is a Savings Bank account for minor of any age operated jointly with his/her parent/guardian, while Pehli Udaan is a singly operated Savings Bank Account for a minor aged 10 years and above and who can sign uniformly.
Specially branded passbook and cheque book have been designed for these products. All the account holders will be given an exclusively designed personalised photo ATM-cum-Debit Card, the bank said in a statement.
Other features bundled along with the two products include Internet banking with limited transaction facilities like bill payment, opening of fixed deposits, recurring deposits, etc. with per day transaction limit of Rs 5,000, and mobile banking with limited transaction facilities like bill payment, and top-ups with per day transaction limit of Rs 2,000.
While launching the products on Teachers day, students of the school were handed over account kits containing their personalised debit cards, pass books, cheque books, etc.
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