Minors Savings Account FAQ

Sweep-in facility

Will there be an option to transfer excess funds available in minors account to Fixed Deposit and earn higher rate of interest?

  • Sweep in facility

Yes, once the balance in the minor's exceeds Rs. 15,000, the amount in excess of Rs. 10,000 can be automatically transferred to a Fixed Deposit for tenure of 1 year and 1 day.

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