The Citibank Junior Account is the Citibank’s kids savings account. The savings account is open for children below 18 years. As it is a kids savings account, the bank account should have a minimum of 2 account holders. In this respect, the first account holder is the minor and the second account holder should be the guardian.
However, the kids savings account is only available for existing bank holders.
Account holders above 15 years can avail a Citibank Junior Debit Card that will give children a first hand experience of banking. The junior debit card can be used to withdraw cash from Citibank ATMs without paying any charge. Customers can also make online and offline transactions at various merchant outlets as well.
Parents can easily manage the kids savings account. Parents can set limits on the debit card to control expenses. Standing instructions from the main account to the child’s account can be made through the online banking platform. Transfer money to the junior account and make your money work hard by parking it in recurring deposits, fixed deposits or investing in mutual funds.
CitiBank Junior Account helps to plan for your child’s future. BSLI Classic Child Plan/Dream Child Plan brings the benefit of both investment and insurance. This will help to plan for your child’s education and help them fulfill their dreams. The plan comes with dual insurance benefit with life cover for you and your child. Ten different investment funds are available in the classic child plan.
Read: Insurance is not investment
Opening a child’s investment services account comes with different benefits such as assistance from certified investment counselors, access to comprehensive financial market reports and you will be able to access your investments anytime and anywhere through Citibank Online.
Customers can access the customer service 24×7 through the CitiPhone Banking along with free access to online banking, online transfers to any bank account in India.
Customers have to visit Citibank bank branch to apply for the Citibank Junior Account. Online application of this kids bank account is not available.
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