In India, opening a bank account is a straightforward process. However, the process is different if you are below 18 years of age. You must visit the nearest bank branch with your parents or guardians and fill out the bank account opening form.
Make sure to select a bank account that suits your needs and enables you to build saving habits. In this blog, we will answer a frequently asked question: ‘Can a 16-year-old open a bank account?’. To find your answers, continue reading further.
| Key Takeaways |
| A 16-year-old can open a bank account in India, but most banks require a parent or guardian to co-sign the account. |
| Some banks offer independent minor-operated accounts, but financial transaction limits apply. |
| Required documents include an Aadhaar card, birth certificate, and school/college ID. |
| Private and public sector banks provide student-friendly savings accounts with low or zero balance requirements. |
Table of contents
Can a 16-Year-Old Open A Bank Account Without Parents in India?
In India, minors above 10 years of age can open a bank account. However, most banks require a parent or guardian to be the joint account holder until the minor turns 18. Some banks, like SBI, allow minors to operate their accounts independently after opening.
Key Features of Minor Bank Accounts:
- Fully operational by the minor without parental consent (depends on the bank’s policy).
- Access to an ATM/debit card with a spending limit.
- Internet banking & mobile banking with restricted features.
- No or low minimum balance requirements in most student accounts.
Also Read: Check here all about the HSBC International Student Account
Documents Required for a 16 Year to Open a Bank Account
To open a student savings account, you will need:
✔ Aadhaar Card (mandatory)
✔ Birth Certificate (if required)
✔ School or College ID
✔ Parent/Guardian’s PAN Card (if the bank requires a joint account)
However, you can open a student bank account online without a PAN card. Some banks allow minors to open accounts with alternative identification, such as a birth certificate or an Aadhaar card.
It’s essential to check specific bank policies regarding documentation.
Teenage Bank Account for 16 and 17-year-olds
Teenage bank accounts are designed for individuals under 18, allowing them to learn financial management. These accounts often come with features like lower withdrawal limits and parental oversight to help instil good saving habits. Some of the teenage bank accounts to choose from are-
Many banks offer minor-friendly savings accounts to help students develop financial management skills. Below are some of the best options:
| Bank | Account Name | Minimum Balance | Features |
|---|---|---|---|
| SBI | SBI Pehla Kadam & SBI Pehli Udaan | Zero Balance | Debit card, internet banking, parental oversight |
| Union Bank of India | Image Savings Account for Students | Zero Balance | ATM card, SMS banking, mobile banking |
| Bank of India | Star Yuva Account | Low/Zero Balance | Daily transaction limit, mobile banking |
| HDFC Bank | Kids Advantage Account | INR 1,000 | ATM withdrawal limit of INR 2,500/day |
| ICICI Bank | Young Stars Account | INR 2,500 | ATM card with a withdrawal limit of INR 5,000/day |
Tip: Choose a bank that offers zero balance accounts and the best student-friendly features. You can explore the list of banks offering zero balance accounts here.
Basic Features of Minor Bank Account
Savings accounts for minors may or may not require a minimum balance. Usually, the public sector banks offer a zero balance account for individuals below 18 years of age. These accounts may also have a maximum limit.
Furthermore, the child will receive an ATM/debit card with access to the account, but the spending limit will be lower compared to a regular Savings Account. This setup ensures that the minor has access to funds as needed without the risk of overspending. For example, SBI students account for minors with a maximum limit of INR 10 lakh.
This was all the important information on whether a 16-year-old can open a bank account without parents. Check some of the most common FAQs based on the same.
FAQs
Yes, a 16-year-old can open a bank account in India without parental permission. Banks allow minors aged between 10 and 18 years to open and operate their own savings accounts.
To open a bank account, you need to provide basic documents such as an Aadhaar Card, PAN card, and a college identity card. These documents are necessary to verify the identity and age of the minor.
Yes, minor bank accounts often have certain restrictions. For example, these accounts may have a maximum balance limit, and the debit/ATM card issued will have a lower spending limit compared to regular savings accounts.
Having a bank account allows a 16-year-old to gain financial knowledge and develop good spending and saving habits. It also provides them with access to banking facilities like internet banking and ATM cards.
Some of the recommended banks for opening a student account for minors in India include the State Bank of India (SBI), Union Bank, and Bank of Baroda. These banks offer zero balance accounts and other favourable terms for students.
To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
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how can we make bank account in 16 year
Hi Aman Ali. You can open an account with any government bank. You can contact the bank and check the features of the account.