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BEST FOR

Building a secure future for your child

  • Save from an early age

  • Competitive interest rates

  • 24/7 access to the account

What is special about this account?

Parents can operate their child's account

Access account from anywhere

Easy remittances

Flexible operations

Young Star exclusive programmes

Things you should know

  • Programme Eligibility

    • NRI Young Star Savings Account - Maintain monthly average account balance of ₹15,000
    • NRI Young Star Select Account - Maintain Deposits* + Account balance of ₹5 lakh OR Deposits* + Account Balance + Mutual funds AUM^ + Demat holdings of ₹50 lakh
    • NRI Young Star Premium Account - Maintain Deposits* + Account Balance of ₹25 lakh OR Deposits* + Account Balance + Mutual funds AUM^ + Demat holdings of ₹1 Cr

     

    *Deposits include Fixed Deposits/Recurring Deposits

    ^AUM- Assets under Management

  • Non-Maintenance Charges

    If programme eligibility criteria are not met, customer needs to maintain minimum monthly average balance (MAB*) of ₹15,000 at Customer ID^ Level to avoid non-maintenance charge.

     

    *MAB is the simple average of day-end balances for a calendar month

     

    ^Customer ID includes all your savings account cumulative balances (except Fixed deposits/Recurring deposits)

  • Eligibility

    NRI minor between 1 day and 18 years of age can open the account under guardianship

  • Guardian Requirement

    The account is opened and operated by the parent/guardian until the minor turns 18

About NRI Young Star

Account for Minors

The NRI Young Star Savings Account is designed for minors below 18 years, opened by NRI parents or guardians. It helps in inculcating saving habits from an early age while ensuring funds grow securely with attractive interest rates. The account converts to a standard NRE account upon the majority.

Hassle-Free Application

Opening the account is simple and requires minimal documentation. Parents or guardians need to provide their passport, visa, and proof of NRI status, along with the minor’s birth certificate. Applications can be submitted online or at a branch, making it convenient for NRIs to secure their child’s financial future. Learn more

Dual Currency Advantage

The account allows deposits in foreign currency, automatically converted to INR. This ensures easy fund management for parents earning abroad while providing financial security in India. The account also supports international transactions, making it a flexible savings option for growing children.

Attractive Interest & Benefits

Earn competitive interest rates with the benefit of tax-free interest in India. The account offers exclusive privileges like a personalised ATM card for minors above 10 years, ensuring accessibility and ease of transactions while keeping savings secure.

Frequently Asked Questions (FAQs)

Who can open an NRI Young Star Account?

NRI parents or guardians can open this account for their children who are below 18 years old. The child will be the primary account holder, while the parent/guardian will operate it until the minor reaches adulthood.

What documents are required to open the account?

The required documents include the parent/guardian’s passport, visa, proof of NRI status (residency/work permit), and the minor’s birth certificate. Additional KYC documents may be required as per banking regulations. Learn more

Can funds be repatriated from this account?

Yes, the funds can be repatriated from all NRE accounts.

Disclaimer

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