Kids Advantage Account
Teach your child the value of money! A great way to accumulate savings for their future while teaching them to manage money.
Apply now for an HDFC Bank Kids Advantage Account.
- ATM/International Debit Card issued to children between 7-18 years of age, in the child’s name, with your permission.
- ATM withdrawal limit: Rs. 2,500
- Daily shopping limit: Rs. 10,000
- Free Education Insurance cover of Rs. 1,00,000*
- Monitor your child’s account with free quarterly statements and free Email alerts on account transactions
* Conditions Apply
Build an investment pool by transferring Rs 1000 every month for a minimum of 1 year (mandatory) to the Kid’s Advantage Account. You also have the option to invest in:
Choose to invest your savings in a Fixed Deposit, in your child's name, if you sign up for our "MoneyMaximizer" (sweep-out) facility.
Average Monthly Balance Calculator
Click here to calculate the Average Monthly Balance (AMB) required to be maintained in your account.
What are the features and benefits of a Kid's Advantage account?
You will get some exclusive features and benefits with your HDFC Bank Kids Advantage Account
- Free Education Insurance cover of Rs.1,00,000/- in the event of death of the parent/ guardian through vehicular accident by road, rail or air to safeguard the future of the child
- ATM/International Debit Card will be issued for children between 7-18 years of age in your child's name with your permission. Your child can withdraw Rs. 2,500 at ATMs and spend Rs. 10,000 at merchant locations per day.
- Free cash withdrawals on any other Bank's ATM*
- 1 free PAPPayable at par cheques. These cheques can be encashed anywhere in India, irrespective of the city they were issued in. cheque book for your child at the time of account opening.
- Free e-mail statements / passbook facility for all account holders (individuals)
- Free NetBanking for you to monitor your child's account.
- Bank conveniently with facilities like NetBanking, Phonebanking and MobileBanking – check your account balance, pay utility bills or stop cheque payments all via SMS.
For their Secured Future
- Standing Instruction to transfer any amount from your account to your Kid's Advantage account every month (Minimum value Rs. 1,000 & Minimum tenure 1 year) (Mandatory).
- Once the balance in the Kid's Advantage Account reaches/exceeds Rs. 35,000, the amount in excess of Rs. 25,000 will automatically be transferred to a Fixed Deposit for 1 year and 1 day, in your child's name, if you sign for our "MoneyMaximizer" (sweep-out) facility.
What's more, all the above facilities come absolutely FREE.
What are the eligibility criteria to open a Kid's Advantage account?
Get details on eligibility criteria & documents required for HDFC Bank Kids Advantage Account
Kid’s Advantage Account can be opened for your child as long as your child is a minor (up to 18 years of age) and you have a Savings Account with HDFC Bank.
If you do not have a savings account with HDFC Bank then you will need to open one, before you open a Kid’s Advantage account. Click here to open an HDFC Bank Savings Account.
How do I open a Kid's Advantage account?
To open a Kid’s Advantage account you have to follow certain criteria:
- Maintain a minimum Average Monthly Balance requirement of Rs. 5,000/-, If the balance is not maintained, the following service charges will be levied:
|AMB Slabs (in Rs.)||Service Charges in case of Non-maintenance of AMB*|
|>=2,500 - < 5,000||Rs. 150/-|
|0 to < 2,500||Rs. 300/-|
What are the fees and charges of Kid's Advantage Account ?
Enclosed below are HDFC Bank Kids Advantage Account fees and charges
There are certain fees and charges to a Kid’s Advantage account depending on your requirement:
|Description of Charges||Kid's Advantage Account|
|Minimum Balance (Average Monthly Balance)||Rs. 5,000/- in Kid's Advantage savings account|
|Charges applicable on non-maintenance||
|Cheque Book||First PAPPayable at par cheques. These cheques can be encashed anywhere in India, irrespective of the city they were issued in. chequebook free of charge at the time of account opening. Subsequent cheque books will be charged at Rs. 3 per leaf|
|Issue of duplicate / adhoc statements||Branch - Rs 100/-
PhoneBanking ( Non IVRInteractive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and keypad inputs.) - Rs.75/-
NetBanking, Mobile Banking, PhoneBanking - IVRInteractive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and keypad inputs. & ATM - Rs 50/-
For Senior Citizen
Branch - Rs 50/- per statement
• PhoneBanking ( Non IVRInteractive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and keypad inputs.) - Rs.50/- per statement
• NetBanking , MobileBanking, PhoneBanking – IVRInteractive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and keypad inputs. & ATM - Rs 30/- per statement
( w.e.f 1st July'13 )
|Duplicate passbook issuance*||Rs 100/-|
|Managers Cheques/Demand Drafts- Issuance/Re-issuance - On HDFC Bank Locations||
|Managers Cheque/Demand Drafts - Cancellation / Revalidation||Rs. 100
(Nil charges for Managers cheque/demand drafts - Cancellation/revalidation up to Rs.1000/-)
( w.e.f 1st Jan 2016 )
|Demand Drafts- Issued - On Non HDFC Bank Locations||
|Cheque Collection - Local Clearing Zone||Free|
|Collection of outstation cheques - our bank locations||
|Collection of outstation cheques - other locations||
|Cheque return charges drawn on us - Local||
|Cheques deposited - outward||Rs. 50|
|Balance Enquiry - at Branch||Free|
|Balance Certificate||Current year - Free, Previous year - Rs. 50|
|Interest Certificate||Rs. 50|
Upto 14 days - Nil
|Photo Attestation||Rs 100/- per instance ( Nil for Senior Citizens )
( w.e.f 1st July'13 )
|Address Confirmation||Rs 50/- per instance|
|Stop Payment Charges||Particular cheque - Rs. 100 (free through NetBanking), range of cheques - Rs. 200 (free through NetBanking)|
|Standing Instructions||Rs. 25 per transcation plus remittanceRemittance is any form of money transfer or payment done from one's working country to home country. Depending on the difference in currency rates and the amount to be transferred, the charges on remittance are also different. charge
( w.e.f 1st July'13 )
|Old records/copy of paid cheques||Upto 1 year - Rs. 50 per record, Above 1 year - Rs. 100 per record|
|Activation of dormant account||No charges|
|Branch transactions (Includes only Cheque deposit/Cheque issuance/Funds Transfer Debit/NEFT/RTGS)
(Charges over and above standard remittanceRemittance is any form of money transfer or payment done from one's working country to home country. Depending on the difference in currency rates and the amount to be transferred, the charges on remittance are also different. charges for Fund Transfer / NEFTThis stands for National Electronic Funds Transfer (NEFT). It is a system that facilitates an individual or company to electronically transfer funds from any bank branch to any individual or company having an account with any other bank branch in the country. / RTGSIt stands for Real Time Gross Settlement. It means that funds transfers happen immediately, in real time. Instructions are processed at the time they are received rather than later. 'Gross Settlement' means the settlement of funds transfers occur on an instruction by instruction basis. This is considering that the funds settlement take place in the books of the Reserve Bank of India, the payments are final and irrevocable. .Remittance charges applicable starting first transaction onwards)
|Cash transactions (Cash deposits & withdrawals) by self at home & Non-home branches
Value Cap will be applicable along with Number Cap on Cash Txns on Non Home branch
|Cash transactions (Cash deposits & withdrawals) by self at home & Non-home branches||
|Cash handling for cash deposit at home branch||For non-managed customers
- Cash deposit value upto Rs 1 lakh/day - No charge
- Above Rs 1 lakh - Rs 25/- per Rs 50,000 or part thereof.
Charge will be levied for the full amount.
|Third Party Transactions at Home & Non - Home branch||
|Local Cheque deposited for outstation accounts||No Charge|
|Phonebanking - IVRInteractive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and keypad inputs.||Free|
|Phonebanking - Non IVRInteractive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and keypad inputs.||
|ATM Card - Replacement charges||Rs. 200 (plus taxes and cess) (w.e.f 1st Dec'14)|
|Kid's Advantage Debit Card (Maestro) - Annual Fee||Free|
|Kid's Advantage Debit Card (Maestro) - Renewal Fee||Free|
|Debit Card - Replacement charges||Replacement of a damaged card - No charges & Replacement of a lost card - Rs. 200 (plus taxes and cess) (for all card types) (w.e.f 1st Dec'14)|
|ATM / Debit Card Card - Transaction Charge||
|Debit Card - Transaction Charge - Non HDFC Bank International ATMs||Rs. 25 per balance enquiry & Rs. 125 per cash withdrawal (plus taxes and cess)
The Bank will charge cross-currency mark-up of 3.5% on foreign currency transactions carried out on Debit Cards. The exchange rate used will be the VISA/Master Card wholesale exchange rate prevailing at the time of transaction
|PIN regeneration charge||Rs. 50 (plus taxes and cess)|
|Decline charge for insufficient balance||Transactions declined at other Bank ATMs anywhere in the world or at a Merchant outlet outside India due to insufficient funds will be charged at Rs. 25 per transaction (plus taxes and cess)|
|BillPay||This service is free w.e.f 1st August'2011|
|InstaPay||Rs. 10 (plus taxes and cess) per transaction|
|InstaAlert||Rs.15 per quarter, effective 1st April 2013 (excl of tax)
Customers who have selected only"Email" as the delivery channel for receiving InstaAlerts will not be charged
|Visa Money Transfer||Rs. 5 (plus taxes and cess) per transaction|
|NEFT Charges - Inward||NIL|
|NEFT Charges- outward||
|NEFT Charges for Indo Nepal transactions||Customers having NSBL*A/c - Rs 20/-
Customers having Non-NSBL* A/c:
Upto Rs 5,000 - Rs 70/-
Above Rs 5,000 - Rs 95/-
* Nepal State Bank Ltd
|RTGS - Outward||
|RTGS - Inward||NIL|
|IMPS (Immediate Payment Service) – Outward||Charges effective 15th May-15
|IMPS (Immediate Payment Service) - Inward||NIL|
|ECS (Debit) Return Charges||- Rs 350/- would be levied on first instance of ECSStands for Electronic Clearing Service. It is a mode by which funds are automatically debited to your account every month to pay or a certain bill or fee. It helps so you don’t have to remember every month to pay your regular bills. It is only done after a standing instruction is given by the account holder. return in a quarter.
- Rs 750/- would be levied, second instance onwards in the same quarter.
|Passbook facility available at home branch for account holders (individuals)||Free|
|Any Deliverable returned by courier due to negative reasons (no such consignee/ consignee shifted and no such address)||Rs 50/- per instance|
|TIN Regeneration (requests received at the branch for physical dispatch)||Rs 50/- per instance|
|IPIN Regeneration (requests received at the branch for physical dispatch)||Rs 100/- per instance|
|Standing Instruction rejects||Rs 200/- per instance|
Click here to view charges applicable effective 1st September 2013
*at home branch for account holders (individuals)
Note : Service/Transaction charges will be applied in the current month based on the AMB maintianed in the account in the previous month
Service/Transaction charges based on non - maintainence of AMB (as specified above) do not apply to Preferred , Corporate Salary & SuperSaver customers
The PhoneBanking charges will apply on transaction that are available on the IVRInteractive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and keypad inputs. but are done through the PhoneBanking Executive
All fees and charges, mentioned in the Tariff of charges, will attract Service Tax @14% (w.e.f 1st June 2015) and Swachh Bharat Cess (SBC) @ 0.5% (w.e f. November 15, 2015)
Is the primary Customer ID of the Kids Advantage account will be same as my Customer ID?
The primary Customer ID issued under your kids name for the Kid's Advantage account will be different from your Customer ID.
You should use the primary customer ID to open the email statement you receive for your Kid's Advantage account.
Do I need to close my account when my kid attains majority?
No, the existing account can be converted to a regular savings account.
To convert the account the following will be required:
- AML section on the SB Regular AOF should be updated for the minor turned major
- Customers will also fill up the Kid’s Advantage account conversion form
- Identity Proof
- Address proof
- Proof of becoming major like Birth certificate, Passport etc
How long the Standing Instruction given will be valid?
Please note that Standing Instruction to transfer any amount from your account to your Kid's Advantage account every month is a mandatory requirement for this account and is valid for a minimum tenure of 1 year. Post the same you need to submit a fresh request at nearest HDFC Bank branch to continue the standing instructions.
What is the time taken to realize outstation cheques?
The indicative time taken for the realization of outstation cheques is given below:
- Cheques drawn where HDFC Bank has a branch, credit will be given on receipt of clear funds in:
- Main metro locations (Mumbai, Chennai, Kolkata, New Delhi): 7 working days
- Metro centers and state capitals (other than those of North Eastern states and Sikkim): Maximum period of 10 working days.
- In all other centres where we have branches: maximum period of 14 working days.
- Cheques drawn on non-branch locations where we have a tie-up with correspondent banks, credit will be given on receipt of clear funds: Within a maximum period of 14 working days
- Cheques drawn on non-branch locations where we do not have a tie-up with correspondent banks, credit will be given on receipt of clear funds: Within a maximum period of 14 working days
How can you transfer your Savings Account from one branch to another?
Following is the process to be followed to transfer your account from one branch to another:
- An account transfer form, signed by all applicants, given at any of our branches. We recommend that you submit the form at the branch that you want your account transferred to.
- There will be no change in your account number. You can continue to use your existing chequebook, debit card etc