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  • CUB Juniors India Savings Account

    Savings Account
    • Instant money transfer
    • 24x7 ATM withdrawals
    • Attractive rate of interest

    The ‘Juniors India’ Savings Account is the latest savings bank scheme from City Union Bank, introduced for the children of the country. This account, which is meant for minors offers many benefits to children, as account holders. In order to open a Juniors India account, the child must be introduced to the bank by an account holder. The City Union Bank requires the child applicant to submit his or her birth certificate at the time of opening the account.

    Bank City Union Bank
    Name of Account Juniors India Savings Bank Account
    Category Savings Bank Account
    Eligibility Children who are 1 day old to the ones below 18 years are eligible for the account. Account is operated by a parent/guardian or court appointed guardian.
    Age Proof Birth Certificate of the Child (Applicant)
    Debit Card Offered For Children above 12 years, with consent of parent or guardian
    Interest Rate 3.50% per annum at present

    Balance Requirements for CUB Juniors India Savings Account

    As it is a minor savings bank account, the minimum balance to be maintained on an average in the account is very low.

    Cheque Book Account Rs.250
    Non-cheque Book Account Rs.100

    Services Offered on Junior India Savings Bank Account

    The following services are offered on a Union Bank of India Junior India Savings Bank Account:

    Age Group of 1 day to 12 years

    Account holders of the Juniors India Savings account, who are between the ages of 1 day and 12 years, are provided with the following facilities:

    Remittance of school or college fees Payable at current rates
    Fund transfer from parents/guardians account to the children’s account Allowed at current interest rates
    Nomination Facility Available
    RTGS and NEFT Facility Free
    Banking Facilities At all locations

    A toy hundial is also given for free to the Juniors India account holders.

    Age Group above 12 years

    Account holders of the Juniors India Savings account, who are above 12 years, are provided with the following facilities

    Remittance of school or college fees Payable at current rates
    Fund transfer from parents/guardians account to the children’s account Allowed at current interest rates
    Nomination Facility Available
    RTGS and NEFT Facility Free
    Banking Facilities At all locations
    Issue of ATM cum Debit Card With consent from parents or guardian
    Use of Internet Banking Facilities With consent from parents or guardian

    When the account holders of the Juniors India Savings Bank Account turn 17 (completion of 17 years), they can continue their account with the bank under Young India Scheme. When they cross the age of 25, they can then convert the account further to a normal City Union Bank Savings Bank account.

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    GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

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