How to Open a Minor Account in Union Bank of India? Documents Required, Process, etc.

The modern financial system is nothing without a bank account and almost every individual needs a bank account.

Developing a habit of using a bank account is a good way of learning to include yourself in the financial system. This learning can be done from a younger age as well by opening a minor account.

A minor account is a specialized account designed for minors where a minor below the age of 18 years can operate a bank account under the supervision of a parent or guardian.

In this article, we will discuss how to open a Minor Account in Union Bank of India, documents Required, Process, etc.

How to Open Minor Account in Union Bank of India Documents Required, Process, etc.

How to Open Minor Account in Union Bank of India?

You can follow these steps to open a Minor Account in Union Bank of India–

  • Visit the Union Bank of India premises and ask the bank representative for the Union Bank Application form for Students
  • Now, fill out the application form with details like name, address, PAN Card, Aadhar card details, etc.
  • After filling in the details, you are required to attach the documents mentioned below along with the initial deposit amount
  • Now, submit the application form and documents mentioned below to the bank representative
  • The bank representative will review your application form and forward the application form for further opening the form
  • Now, after evaluating your application form you’ll be notified about the account opening status
  • You’ll also receive an SMS stating successful account opening along with the account number
  • After 5-7 days of account opening, you’ll receive the bank starter’s kit which includes an ATM card, Mobile Banking, Net Banking, Cheque book, etc.

Documents Required for Opening Minor Account in Union Bank of India

The following are the documents required for Opening a Minor Account in Union Bank of India-

  • Union Bank of India Application Form for Minors or Union Bank of India Account for Students
  • Declaration / Authorization from the Parent
  • 2 Passport size Photo
  • Address Proof-Electricity bill, PAN Card, Aadhaar Card, etc.
  • Identity Certificate-Aadhaar card, Birth certificate, Voter ID, etc.
  • Copy of Student ID Card or Letter from the respective Educational Institution

FAQ

What if the minor account holder reaches more than 18 years of age?

If the minor account holder reaches more than 18 years of age then the account will be voided and you’ll be notified about the conversation from the minor account to the normal account or you’ll receive a cheque from the bank with the remaining balance.

How Minor Account is different Normal Account?

The minor account is a specialized account that is specifically designed for operating under the supervision of an adult i.e. parents or Guardians. The account also has some limitations to safeguard the account from illegitimate use. Normal Account does not have any of the restrictions that Minor account has and therefore can be used as the account holder like.

Is there any debit card limit for Union Bank Minor Account?

Yes, the debit card limit for the Union Bank Minor account is Rs.25,000/- per day for ATM Cash Withdrawal Limit, and Rs.50,000 per day limit for ATM POS.

RELATED ARTICLESMORE FROM AUTHOR