Minor account
A bank account in a child's name, run by a guardian, or by the child from an age the bank sets, not below 10.
A minor account is a bank account in a child’s name. Under RBI’s April 2025 rules, a parent or guardian can open and run one at any age, and a child can be allowed to run it alone from an age the bank sets, which can’t be lower than 10. It can never go into overdraft. At 18, the bank takes fresh instructions and a new signature. It’s a simple way to give a child real practice with a savings account.
Questions people ask
Who can open a bank account for a minor?
A natural or legal guardian can open and run a savings or term deposit account for a child of any age, and the mother can act as guardian, under RBI's April 2025 circular on minors' accounts.
From what age can a child run their own bank account?
From an age the bank sets, which can't be lower than 10, and within amount limits and terms the bank fixes. Banks may also offer a debit card, internet banking or a cheque book, based on their own risk policy.
What happens to a minor account at 18?
The bank takes fresh operating instructions and a new specimen signature from the account holder. If a guardian ran the account, the balance is confirmed with the account holder.
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