Several Indian banks offer some of the best debit cards for students. These cards usually have lower spending limits and come with features like parental controls and expense tracking. You can use the debit card abroad after activating international transactions. Some of the best debit cards for students include the Union Bank SBZER Classic Card and the HDFC Bank Kids Advantage Account Debit Card. These cards aim to provide young individuals with a financial tool while imparting responsible spending habits under the guidance of their parents or guardians.
Also Read: Check here all about Multi-Currency Forex Card. Know how to use the card abroad and how to manage expenses
Table of contents
Advantages of Debit Cards for Students Under 18
Here are the advantages of a debit card for minors under 18 years:
- Provides an opportunity for hands-on learning about managing money responsibly.
- Allows students to make their own purchases and decisions within set limits
- Helps in developing budgeting and money management skills from a young age
- Parents can monitor transactions and guide their children’s spending habits
- Offers a safe means for accessing funds in unexpected situations
- Enables safe online shopping without the need for a credit card
- Safer than carrying cash and often comes with fraud protection measures
- Easy access to funds for daily expenses, school supplies, and activities
Union Bank SBZER Classic Card
This debit card is available to Union Bank of India (UBI) Savings Bank Account for Students (SBZER) account holders. Designed for students under 18 years of age, this debit card can be used at ATMs of UBI and other banks in India. To avail of this card, students need to fulfil bank formalities under the guidance of their parents.
Eligibility
It is a classic card that is available to individuals who meet the following criteria:
- The applicant must be within the age bracket of 10 years to 25 years
- The candidate must be pursuing regular academic courses
Fees and Charges
Furthermore, parents of young kids must be aware of fees and charges for this debit card for students under 18. Here are the fees and charges associated with Union Bank SBZER Classic Card:
| Particulars | Fees |
| Issuance Charge | Nil |
| Annual Maintenance Fee | Decided by the bank |
| Charges for UBI ATM | 5 Transactions per month are free; Charges are applicable on more than 5 transactions. The charges are decided by the bank |
| Charges for other bank ATMs | 3 Transactions per month are free; Charges are applicable for more than 3 transactions. Charges are to be decided by the bank. |
Features
Now that we have covered eligibility and fees related to the SBZER Classic Card, let us explore its features. The below-mentioned properties of this debit card for teens will ease your application process:
- This card can be used at financial and non-financial ATMs
- The per day ATM cash withdrawal limit for the SBZER Classic Card is INR 25,000
- In addition, the daily ATM POS limit is INR 50,000
- Besides, the debit card has a free personal accident insurance cover of INR 2 lakh, in case of the death of the account holder.
Also Read: Want an international credit card while studying abroad? Check here all about Axis Bank Credit Card for Students
HDFC Bank Kids Advantage Account Debit Card
The initial step to opt for this debit card for students under 18 is to open an HDFC Kids Advantage Account. According to the bank policy, both parents and child are owners of this account. As a parent, you can transfer any amount of money to your child’s Advantage account each month. As soon as the Advantage account’s balance exceeds INR 35,000, funds over INR 25,000 will be automatically transferred to an FD for 12 months+1 day. This FD is in the name of the student/child.
Eligibility
This credit card is available to children who adhere to the following eligibility criteria:
- The child should be a minor, i.e. less than 18 years of age
- Parents must already have a savings account at HDFC before availing of the debit card of the HDFC Kids Advantage Account
Fees and Charges
As users or potential customers of HDFC Kids debit card, parents of minor children must know about the following charges:
| Particulars | Fees |
| Issuance Charge | INR 150/year |
| Renewal Fee | INR 150 |
| Reissuance/Replacement Fee | INR 200 + Taxes |
| Financial transactions at HDFC ATMs | 5 free transactions per month |
| Non-Financial transactions at HDFC ATMs | Nil |
| Financial transactions at ATMs of other banks | 3 free transactions per month in Bengaluru, Mumbai, Hyderabad, New Delhi, Kolkata, and Chennai |
| Non-Financial transactions at ATMs of other banks | 5 free transactions per month in Kolkata, Bengaluru, New Delhi, Hyderabad, Mumbai, and Chennai |
Features
Here are the key features of the HDFC Kid’s Advantage Debit Card:
- The card is issued in the name of the minor with due permission of the parent/s
- The minor can spend a maximum of INR 10,000 at merchants each day
- Further, the child can withdraw a maximum of INR 2,500 each day at ATMs of HDFC bank or any other bank
State Bank of India Pehli Udaan Debit Card
Just like all other banks, to avail of an SBI debit card for students under 18 parents need to open a State Bank of India Pehli Udaan account in the name of their kids. With a daily transaction limit of INR 5,000 and INR 2,000 for Internet banking and mobile banking, respectively, this savings account offers an interest rate of 2.70%.
Eligibility
To become an SBI Pehli Udaan Debit Card, parents must ensure that they and their children must adhere to the following requirements:
- The child must be above 10 years of age but not more than 18 years
- The parent must have a savings account with SBI
Fees and Charges
If you are considering applying for a Pehli Udaan debit card for your child, you must know about the related fees and charges:
| Particulars | Fees |
| Issuance Fee | Nil |
| Yearly Maintenance Fee | INR 125 + GST |
| Replacement Charges | INR 300 + GST |
| PIN Regeneration Fee | INR 50 + GST |
| International POS or e-Commerce Transactions Charges | 3% of the transaction amount + GST |
Features
Additionally, knowing about key features is of great significance. Listed below are some of the key features of the SBI Pehli Udaan credit card:
- It is a photo-embossed debit-cum-ATM card
- It is issued in the name of the minor
- The daily ATM withdrawal limit is INR 5,000
- The daily POS limit is INR 5,000
Fyp Debit Card
Fyp functions as a neo-bank, empowering teenagers with the ability to manage their own spending. This cultivates financial independence and readies them for self-sufficient living. The Fyp app provides adolescents with an opportunity to make autonomous expenditures for personal use.
Eligibility
Let us now discuss the requirements to receive this debit card for students under 18 years:
- Age between 13 and 19 years old.
- Valid identification documents, such as a passport or national ID.
- Consent from a parent or legal guardian if under 18.
- Access to a smartphone with the Fyp app installed.
Fees and Charges
The table below displays important fees and charges associated with Fyp debit cards for teens.
| Particulars | Fees |
| Virtual card issuance charge | Nil |
| Physical card issuance charge | INR 399 |
Features
Here are the key features of the Fyp card for reference for parents planning to apply for the debit card:
- Parents or guardians can monitor transactions and set limits
- Built-in tools to help teens learn effective money management
- Prevents overspending beyond the available balance
- Transparent fee structure with no hidden charges
- Access to financial education materials through the app
- Instant alerts for transactions, promoting awareness
Best debit cards for students are offered by all major public and private sector banks in India. Compare the terms and conditions and the services offered and then choose the best-suited debit card for you. Check some FAQs on best debit card for students below:
FAQs
Nationalised banks such as State Bank of India and Union Bank of India and private banks like HDFC offer debit cards for minors.
Each provider has distinct criteria. However, common requirements include parents’ consent and limited transactions at ATMs and POS.
Some of the popular debit cards for minors include the SBI Pehli Udaan Debit Card, Union Bank of India SBZER Classic Card, FyP, and HDFC Kids Advantage Debit Card.
You can activate international transactions on your debit card through net banking or by visiting the branch and applying for the same.
If you have lost your credit card, you can call the customer card of your bank and block the existing card. After blocking, apply for a new debit card and it will be delivered to your address.
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.
