What is Pehli Udaan?

Both Pehla Kadam and Pehli Udaan account are loaded with features such as internet banking, mobile banking, cheque book, debit card and auto sweep facilities. These facilities will help kids to become familiar with the latest banking practices and also make them aware of the different aspects of personal finance.

What is auto sweep facility in SBI?

It allows you to choose your own threshold limit, your own deposit size, your own frequency and your own duration of the deposit. It also allows you to choose whether you want to a LIFO withdrawal or a FIFO withdrawal. Even the minimum threshold limit is pretty reasonable at 25k.

What is minor account?

A minor is any person below the age of 18 years. For accounts of minors below 10 years of age, the guardian must operate the account. For minors over 10 years of age can operate the account on their own.

What is SBI Pehli Udaan account?

Pehla Kadam and Pehli Udaan, are complete bouquets of banking products, that will not only help children learn the importance of saving money but will also allow them to experiment with the ‘buying power’ of money. All these features come with ‘per day limits’ to ensure that they spend the money wisely.

How can I withdraw money from my SBI minor account?

Features

1. PehlaKadam : Child’s photo embossed ATM-cum-Debit Card with withdrawal/POS limit of Rs. 5,000/-.
2. Card will be issued in the name of the minor and Guardian.
3. PehliUdaan: Photo embossed ATM-cum-Debit with withdrawal/POS limit of Rs. 5,000/- will be issued in the name of the minor.

Can we withdraw money from minor account?

The minor Savings Account is jointly held by the parent/guardian and the child. Once the child is 10 years old, they are allowed to operate the account on their own. A child above 10 years of age is provided with a cheque book and a Debit Card to withdraw money. However, the parent/guardian can set a withdrawal limit.