kotak.com Apply For Junior Savings Account : Kotak Mahindra Bank Ltd

Organization : Kotak Mahindra Bank Ltd
Facility : Apply For Junior Savings Account

Home Page : http://www.kotak.com/personal-banking/accounts-deposits/savings-accounts/my-junior-account-savings-account-kids.html#exclusive_privileges
Apply here : https://www.kotak.com/en/home.html

My Junior Account – The Savings Account for Kids
Kotak Junior Account is designed to inculcate the habit of savings in children from an early age and help parents build a corpus for their child’s future. It comes with a first of its kind personalized Junior ID card for children, bundled with a host of exclusive privileges across dining, edutainment and shopping on kids’ brands like Domino’s, Baskin Robbins, Kool Skool, Gini & Jony and more.

Early To Save. Early to Earn. :
** The Kotak Junior Account helps inculcate a saving habit in the child and in their parents, which helps build a corpus for the child’s future needs like education.

It is a bundled offering that includes :
Junior Savings Account which is an NMC waived Nova Account +With a Guardian Account you can choose from a host of our Savings Account variants designed to give you a worry-free banking experience+You may also invest in Recurring Deposit / Systematic Investment Plan as little as Rs. 2,000^ per month (minimum tenure of 36 months)^ Rs. 1000 or above for Semi-Urban & Rural Branches

Recurring Deposit :
A Recurring Deposit (RD) allows you to park a pre-defined amount in a long term deposit every month. You can sign up for an RD with a simple standing instruction and save for your child’s future.
For e.g., If you were to invest Rs. 10,000/- per month for 10 years at an interest rate of 8% p.a., your child would receive Rs. 18.36 lakhs on deposit maturity.*

Systematic Investment Plan :
Seasoned financial planners tell you it is never too late to start investing. What they also tell you that it is better to start early. So what better way to invest in your child’s future than with a Systematic Investment Plan-
Choose the amount and the duration that you wish to invest and start building that Ivy League education corpus that your child deserves!

Other Features :
** Up to 6%* interest p.a. on Savings Account balance
** Investment avenues like Recurring Deposit and Systematic Investment Plans
** Investment based NMC waiver^
** Personalized Debit Cards#
** Discounts on partner brands

Disclaimer :
*Earn 6% interest p.a. on savings account balance over Rs. 1 Lakh. Balances up to Rs. 1 Lakh will earn 5.0% interest p.a. with effect from 1st November 2014. Up to 6% interest p.a. not applicable on NRE/NRO Accounts..
#Debit Cards will be issued on the request of the guardian to children above the age of 10 years and it will have a withdrawal limit of Rs. 5,000/- only.