Top Savings Bank Accounts for Children

What is Kids Savings Account?

A kids' savings account is a bank account designed specifically for children, helping them learn money management and savings habits early. It typically offers features like low minimum balances, parental controls, and higher interest rates on savings to encourage saving.

Updated On - 03 Oct 2025
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Top Kids Savings Account

HDFC Kids Advantage Account

The HDFC Kids Advantage Account is a savings account designed to help parents save for their child's future. It offers features like a debit card for the child, insurance coverage, and the option to link it to a fixed deposit for higher interest rates. Parents and guardians are more likely to inculcate the importance of top grades and immaculate manners in their young ones than tell them the value and importance of money. The general trend is that parents wait until the kids are at least 10-12 before money talks.

Features & Benefits:

  • Free Education Insurance of INR 100,000 for the child if the parent or guardian passes away due to motor accident by road, rail or air.
  • Your child (aged 7 to 18) can have his/ her own ATM Debit Card with the parent or guardian's approval. Daily ATM withdrawal limit for the child is INR 2500. But they can shop for INR 10,000 per day at any mercantile.
  • Avail complimentary PAP cheque book for your kid when you start the account.
  • Keep track of the account through your Net Banking Account, Mobile Banking Account and free monthly e-statements.

Indus Young Saver Account 

Indus Young Saver Account secures your child’s financial future as it offers a balanced portfolio of savings and investment solutions. It is a Flexi Recurring Deposit Account which gives parents the to transfer as much as they want every month instead of transferring a fixed pre-agreed amount.

Features and Benefits:

  • Indus Young Saver Account can be opened with a minimum deposit of Rs.11 only
  • This account can also be opened as a free add-on account with your regular IndusInd savings account.
  • The monthly contribution towards Indus Young Saver Account is flexible and the account holder can choose to deposit any amount he/she wishes.
  • On the last day of every month, the balance in the savings bank account will be transferred to the Flexi Recurring Deposit Account. Only Rs.100 will be left in the savings bank account on the last day of every month.
  • The tenure of Flexi Recurring Deposit Account ranges between 6 months to 120 months

ICICI Bank Young Stars Savings Account

The ICICI Bank Young Stars Savings Account is a specially designed savings account for children and teenagers, offering a range of features to help them start managing their finances early.  ICICI Bank Ltd, as the biggest private bank in the country, was one of the first to introduce the idea of ‘make them a part of it’. And Young Stars Savings Account is the result. 

Features and Benefits:

1. You will get a complimentary Young Stars Debit Card, which will help your child to withdraw money or shop at any store with a POS machine. Young Stars Debit Card comes with daily spend limits that range from INR 1000 to INR 5000.

2. It also has a Standing Instructions Feature to transfer cash from the guardian’s account to the Young Stars Account.

3. Money Multiplier Facility: Earns you more interest than a regular savings account, and you may also use your money anytime.

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IDBI Power Kids Savings Account

IDBI Power Kids Savings Account is a piggy bank for kids which will not only help them save money but will also provide interest on the money. IDBI Power Kids Savings Bank Account comes with benefits like a debit card, passbook, chequebook, and Net Banking. With this account, children will learn how modern internet banking works and will be able to handle their money independently when they grow up.

Features and Benefits:

1.  Kids get specially designed IDBI ATM card with IDBI Power Kids Savings Account.  

2. Account holders are offered free passbook which will help them maintain their account in a better way.

3. Customers are offered an insurance cover of up to Rs. 8000 against counterfeit and lost cards.

Kotak Junior Savings Account

Specially designed to meet the saving needs of our little stars, Kotak Junior Savings Account helps inculcate the habit of savings from a very early age and also empowers the parents to build a corpus for the future of their kids. 

Features and Benefits:

1. Designed specially for the parents, this account will give you all the required banking facilities.

2.  You can invest in Recurring Deposit or Systematic Investment Plan for a minimum amount of Rs.2000 per month and tenure of 36 months  

3. You can save a predefined amount in a long term deposit by contributing every month.

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