ICICI Bank launches ‘Smart Star’ account, a minor operated savings account for minors above 10 years of age

ICICI Bank launched ‘Smart Star’ account, a savings account for minors above 10 years of age. The account will be opened in the name of the minor and will offer kid with a tailored cheque-book and a debit card with a picture of his/ her choice. The permits minors to operate their accounts individually. This will benefit to teach kids a practice of saving and responsibility of spending sensibly.
Minors will be able to start several banking transactions including issuing cheques, paying bills, recharge mobile phones, open fixed deposits and recurring deposits amongst others. They will also have access to banking networks such as ATM, mobile, Internet banking, etc.

Month: Current Affairs - September, 2014