In India, minors (individuals under the age of 18) are allowed to open bank accounts in their own name. However, a parent or guardian will need to act as a joint holder of the account and will be responsible for managing the account until the minor reaches the age of majority.
To open a bank account for a minor in India, you will need to follow these steps:
- Choose a bank: Decide which bank you want to open the account with. You can compare different banks and their account options to find the one that best meets your needs.
- Gather required documents: You will need to provide certain documents to open the account. These may include proof of identity, proof of address, and proof of age for the minor. You may also need to provide documents for the parent or guardian who will be acting as the joint holder of the account.
- Complete the account opening process: Once you have all the necessary documents, you can visit the bank branch in person or apply online to open the account. You will need to fill out an account opening form and provide the required documents.
- Set up the account: Once the account is open, you will need to set up any necessary details, such as choosing a PIN for the account or setting up online banking.
It’s important to note that different banks may have their own specific requirements and processes for opening a minor’s bank account. It’s a good idea to check with the bank you are considering to find out exactly what you will need to do to open the account.