{"id":16970,"date":"2025-01-15T13:26:38","date_gmt":"2025-01-15T07:56:38","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=16970"},"modified":"2025-06-02T13:42:19","modified_gmt":"2025-06-02T08:12:19","slug":"au-small-finance-bank-minor-account-types-eligibility-fees","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/","title":{"rendered":"AU Small Finance Bank Minor Account: Types, Eligibility, Fees"},"content":{"rendered":"\n<p>An AU Small Finance Bank minor account is a savings account designed specifically for children under the age of 18. It allows parents or guardians to jointly manage the account, with the child learning h&amp;ow to manage their finances responsibly. <\/p>\n\n\n\n<p>The account offers benefits like a debit card with a limited spending limit and access to basic banking features, helping the child securely develop financial habits. Explore more about the AU Small Finance Bank Minor Account and essential things to know before opening the account.<\/p>\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2 id=\"table-of-contents\">Table of contents<\/h2><ul><li><a href=\"#h-what-is-an-au-small-finance-bank-minor-account\" data-level=\"2\">What Is An AU Small Finance Bank Minor Account?<\/a><ul><li><a href=\"#h-key-features-of-the-au-minor-account\" data-level=\"3\">Key Features of the AU Minor Account<\/a><\/li><li><a href=\"#undefined\" data-level=\"3\">Minor Account for Children Aged 10\u201318<\/a><\/li><\/ul><\/li><li><a href=\"#h-benefits-of-opening-an-au-minor-account\" data-level=\"2\">Benefits of Opening an AU Minor Account<\/a><\/li><li><a href=\"#h-eligibility-criteria-for-au-bank-minor-account\" data-level=\"2\">Eligibility Criteria for AU Bank Minor Account<\/a><\/li><li><a href=\"#h-documents-required-to-open-minor-s-account-in-au-small-finance-bank\" data-level=\"2\">Documents Required to Open Minor\u2019s Account in AU Small Finance Bank<\/a><\/li><li><a href=\"#h-how-to-open-an-au-small-finance-bank-minor-account\" data-level=\"2\">How to Open an AU Small Finance Bank Minor Account?<\/a><\/li><li><a href=\"#h-fees-and-charges-for-au-small-finance-bank-minor-account\" data-level=\"2\">Fees and Charges for AU Small Finance Bank Minor Account<\/a><\/li><li><a href=\"#h-why-choose-au-small-finance-bank-for-your-child-s-savings-account\" data-level=\"2\">Why Choose AU Small Finance Bank for Your Child\u2019s Savings Account?<\/a><\/li><li><a href=\"#h-faqs-on-au-small-finance-bank-minor-account\" data-level=\"2\">FAQs on AU Small Finance Bank Minor Account<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-an-au-small-finance-bank-minor-account\"><span id=\"what-is-an-au-small-finance-bank-minor-account\">What Is An AU Small Finance Bank Minor Account?<\/span><\/h2>\n\n\n\n<p>The AU Small Finance Bank Minor Account is a savings account tailored for children under 18, aimed at promoting financial literacy and responsible money management. Jointly managed with a parent or guardian, it provides kids with hands-on experience in banking while ensuring parental oversight. <\/p>\n\n\n\n<p>AU Minor Account is ideal for parents who want to teach their children the value of saving and spending wisely. This is the <a href=\"https:\/\/fly.finance\/blog\/student-account\/best-student-bank-account\/\"><strong>best student bank account<\/strong><\/a> that offers features like a debit card, educational resources, and easy banking access.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-key-features-of-the-au-minor-account\"><span id=\"key-features-of-the-au-minor-account\">Key Features of the AU Minor Account<\/span><\/h3>\n\n\n\n<p>The AU Small Finance Bank minor account comes with a range of features designed to benefit both children and parents. Here are the key features of the AU Small Finance Bank minor account:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Feature<\/strong><\/th><th><strong>Details<\/strong><\/th><\/tr><\/thead><tbody><tr><td><strong>Maximum Savings Limit<\/strong><\/td><td>Varies based on account type and child\u2019s age.<\/td><\/tr><tr><td><strong>Minimum Balance<\/strong><\/td><td>INR 500 (zero balance for select account types).<\/td><\/tr><tr><td><strong>Interest Rate<\/strong><\/td><td>Up to 7.25% p.a., one of the highest for kids\u2019 savings accounts.<\/td><\/tr><tr><td><strong>Debit Card<\/strong><\/td><td>Issued for children above 10, with a lower spending limit for safety.<\/td><\/tr><tr><td><strong>Internet Banking<\/strong><\/td><td>Limited functionality for minors to ensure secure online transactions.<\/td><\/tr><tr><td><strong>Parental Oversight<\/strong><\/td><td>Joint account with a guardian for monitoring and setting spending limits.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>These features make the account a practical tool for teaching kids about banking while ensuring security and ease of use.<\/p>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: This blog provides you with a list of all the banks that offer <\/strong><a href=\"https:\/\/fly.finance\/blog\/student-account\/debit-card-for-students-under-18\/\"><strong>Debit Cards for Students who are under 18<\/strong><\/a><strong>. Read to find the most suitable option!<\/strong><\/p>\n\n\n\n<h2 id=\"types-of-au-small-finance-bank-minor-accounts\" class=\"wp-block-heading\">Types of AU Small Finance Bank Minor Accounts<\/h2>\n\n\n\n<p>AU Small Finance Bank offers two types of minor accounts to cater to different age groups, ensuring flexibility and accessibility. Understanding these options helps parents choose the right account for their child\u2019s needs.<\/p>\n\n\n\n<h3 id=\"minor-account-for-children-under-10\" class=\"wp-block-heading\">Minor Account for Children Under 10<\/h3>\n\n\n\n<p>This account of AU Small Finance Bank Minor Account is designed for younger children and requires joint management with a parent or guardian. The guardian oversees all transactions, ensuring the account is used responsibly while introducing kids to basic banking concepts.<\/p>\n\n\n\n<h3 id=\"minor-account-for-children-aged-10-18\" class=\"wp-block-heading\">Minor Account for Children Aged 10\u201318<\/h3>\n\n\n\n<p>For older children, this account allows independent operation under the bank\u2019s terms, fostering greater financial autonomy. It includes a debit card with controlled spending limits, making it suitable for teens learning to manage their own funds.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-benefits-of-opening-an-au-minor-account\"><span id=\"benefits-of-opening-an-au-minor-account\">Benefits of Opening an AU Minor Account<\/span><\/h2>\n\n\n\n<p>The AU Small Finance Bank Minor Account offers a range of advantages that make it a top choice for parents looking to secure their child\u2019s financial future. Here are the key benefits:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>High Interest Rates<\/strong>: Earn up to 7.25% p.a., helping savings grow faster than many other banks\u2019 offerings. <a href=\"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/li>\n\n\n\n<li><strong>Financial Education<\/strong>: Encourages kids to learn budgeting, saving, and responsible spending through hands-on banking experience.<\/li>\n\n\n\n<li><strong>Exclusive Debit Card<\/strong>: Children above 10 receive a VISA Gold Debit Card with over 1,000 discounts on top brands. <a href=\"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/li>\n\n\n\n<li><strong>Convenient Banking Hours<\/strong>: Extended branch hours until 5 p.m. for easy access. <a href=\"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/li>\n\n\n\n<li><strong>Effortless Deposits<\/strong>: Deposit funds without deposit slips, simplifying the process for parents. <a href=\"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/li>\n\n\n\n<li><strong>Comprehensive Insurance<\/strong>: Includes personal accident cover, card liability protection, and purchase protection for added security. <a href=\"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/li>\n\n\n\n<li><strong>Low Minimum Balance<\/strong>: Only INR 500 required, with zero-balance options available for select accounts. <a href=\"https:\/\/www.paisabazaar.com\/au-small-finance-bank\/savings-account\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/li>\n<\/ul>\n\n\n\n<p>These benefits make the AU Minor Account a valuable tool for building a strong financial foundation for children.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-eligibility-criteria-for-au-bank-minor-account\"><span id=\"eligibility-criteria-for-au-bank-minor-account\">Eligibility Criteria for AU Bank Minor Account<\/span><\/h2>\n\n\n\n<p>To open an AU Small Finance Bank Minor Account, specific eligibility requirements must be met to ensure responsible management and compliance with banking regulations. Here\u2019s what you need to know:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Age Requirement<\/strong>: The child must be under 18 years old.<\/li>\n\n\n\n<li><strong>Residency<\/strong>: The minor must be a resident of India.<\/li>\n\n\n\n<li><strong>KYC Documentation<\/strong>: Valid government-issued identity and address proof for both the minor and the parent\/guardian (e.g., Aadhaar card, PAN card, passport, or voter ID).<\/li>\n\n\n\n<li><strong>Account Operation<\/strong>:\n<ul class=\"wp-block-list\">\n<li><strong>Children under 10: <\/strong>Account operated jointly with a parent or guardian.<\/li>\n\n\n\n<li><strong>Children aged 10\u201318: <\/strong>Can operate independently, subject to bank terms. <a href=\"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p>These criteria ensure the account is accessible yet secure for young savers.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-documents-required-to-open-minor-s-account-in-au-small-finance-bank\"><span id=\"documents-required-to-open-minors-account-in-au-small-finance-bank\">Documents Required to Open Minor\u2019s Account in AU Small Finance Bank<\/span><\/h2>\n\n\n\n<p>These documents ensure compliance with the bank&#8217;s Know Your Customer (KYC) norms and facilitate the smooth opening of the Minor&#8217;s Savings Account. To open a Minor&#8217;s Savings Account with AU Small Finance Bank, the following documents are typically required:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Proof of Identity:<\/strong> Parent\/guardian\u2019s identity proof (Aadhaar card, passport, etc.)<\/li>\n\n\n\n<li><strong>Proof of Address:<\/strong> Parent\/guardian\u2019s address proof<\/li>\n\n\n\n<li><strong>Child\u2019s Proof of Identity: <\/strong>Birth certificate or any government-approved document showing the child\u2019s name.<\/li>\n\n\n\n<li><strong>Photographs: <\/strong>Passport-sized photographs of the parent and child.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-to-open-an-au-small-finance-bank-minor-account\"><span id=\"how-to-open-an-au-small-finance-bank-minor-account\">How to Open an AU Small Finance Bank Minor Account?<\/span><\/h2>\n\n\n\n<p>Opening a minor account at AU Small Finance Bank is simple and can be done online or by visiting the nearest branch. Here&#8217;s a step-by-step guide to opening an AU Small Finance Bank Minor Account. Please have a look!<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Check Eligibility<\/strong>: Confirm the child is under 18 and a resident of India.<\/li>\n\n\n\n<li><strong>Gather Documents<\/strong>: Collect identity and address proofs for the parent\/guardian and child, plus passport-sized photos.<\/li>\n\n\n\n<li><strong>Choose Application Method<\/strong>:\n<ul class=\"wp-block-list\">\n<li><strong>Online<\/strong>: Use the AU 0101 App or NetBanking for a digital application with Video KYC (available in select locations). <a href=\"https:\/\/www.aubank.in\/personal-banking\/savings-account\/digital-savings-account\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/li>\n\n\n\n<li><strong>In-Branch<\/strong>: Visit your nearest AU Small Finance Bank branch to <a href=\"https:\/\/fly.finance\/blog\/education-loan\/student-account-online\/\"><strong>open a student account online<\/strong><\/a>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Fill out the Form<\/strong>: Provide personal details for the parent\/guardian and child.<\/li>\n\n\n\n<li><strong>Submit Documents<\/strong>: Upload or present documents for verification.<\/li>\n\n\n\n<li><strong>Make Initial Deposit<\/strong>: Deposit the minimum balance (INR 500 or zero for select accounts).<\/li>\n\n\n\n<li><strong>Account Activation<\/strong>: Once verified, the account is activated, and the child receives a passbook or debit card. <a href=\"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/li>\n<\/ol>\n\n\n\n<p>After the documents are submitted and verified, your minor account will be activated, and your child will receive a passbook or debit card (depending on the account type).<\/p>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: Read out this blog to know which is better- <\/strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/education-loan-from-public-bank-or-private-bank\/\"><strong>education loans from private banks or public banks<\/strong><\/a><strong>?<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-fees-and-charges-for-au-small-finance-bank-minor-account\"><span id=\"fees-and-charges-for-au-small-finance-bank-minor-account\">Fees and Charges for AU Small Finance Bank Minor Account<\/span><\/h2>\n\n\n\n<p>The AU Small Finance Minor\u2019s Account offers several banking services with minimal charges. Cash deposits are free up to INR 5 Lakhs per month, while transactions like RTGS, IMPS, and NEFT have nominal fees starting from INR 2.5. Additional services, including cheque-related instructions, SMS alerts, and account statements, come with clearly defined charges.<\/p>\n\n\n\n<p>Some other important fees and charges are:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Category<\/strong><\/td><td><strong>Details<\/strong><\/td><\/tr><tr><td><strong>Cash Deposit (All Branches)<\/strong><\/td><td>Free up to INR 5 Lakhs per month; beyond the limit, INR 4 per INR 1,000 (minimum INR 50).<\/td><\/tr><tr><td><strong>RTGS &amp; IMPS at Branch<\/strong><\/td><td>INR 10 per transaction.<\/td><\/tr><tr><td><strong>IMPS Online<\/strong><\/td><td>Up to INR 10,000: INR 2.5; INR 10,000 to 1 Lakh: INR 5; Above 1 Lakh: INR 15.<\/td><\/tr><tr><td><strong>NEFT at Branch<\/strong><\/td><td>Up to INR 1 Lakh: INR 2 per transaction; Above INR 1 Lakh: INR 10 per transaction.<\/td><\/tr><tr><td><strong>Cancellation\/Revalidation of DD<\/strong><\/td><td>INR 100 per instrument.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-choose-au-small-finance-bank-for-your-child-s-savings-account\"><span id=\"why-choose-au-small-finance-bank-for-your-childs-savings-account\">Why Choose AU Small Finance Bank for Your Child\u2019s Savings Account?<\/span><\/h2>\n\n\n\n<p>Now, a common question is, why should you choose AU Small Finance Bank for your child\u2019s savings account? The answer lies in the numerous benefits it offers. Choosing an AU Small Finance<strong> <\/strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/bank-accounts-for-students\/\"><strong>bank account for students<\/strong><\/a> comes with many advantages. Let&#8217;s compare the key features of an AU Small Finance Bank Minor Account with other banks:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Feature<\/strong><\/td><td><strong>AU Small Finance Bank Minor Account<\/strong><\/td><td><strong>Other Banks<\/strong><\/td><\/tr><tr><td>Eligibility<\/td><td>Available for children below 18 years<\/td><td>Varies by bank<\/td><\/tr><tr><td>Interest Rate<\/td><td>Competitive interest rates on savings<\/td><td>Varies by bank<\/td><\/tr><tr><td>Debit Card Access<\/td><td>Available for children above 10 years<\/td><td>May vary by bank<\/td><\/tr><tr><td>Online Banking Facility<\/td><td>Yes, with custodial access for parents<\/td><td>May vary by bank<\/td><\/tr><tr><td>Tax Exemption<\/td><td>Tax exemption for minor savings up to a certain limit<\/td><td>Varies by Income<\/td><\/tr><tr><td>Minimum Balance Requirement<\/td><td>Low minimum balance(INR 500) requirement<\/td><td>Varies by bank<\/td><\/tr><tr><td>Safety and Security<\/td><td>Advanced security features for minor accounts<\/td><td>Standard security measures<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs-on-au-small-finance-bank-minor-account\"><span id=\"faqs-on-au-small-finance-bank-minor-account\">FAQs on AU Small Finance Bank Minor Account<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1736927410453\"><strong class=\"schema-faq-question\">What is an AU Small Finance Bank Minor Account?<\/strong> <p class=\"schema-faq-answer\">AU Small Finance Bank Minor Account is a savings account for children under 18, co-managed with a guardian, featuring a debit card, online banking, and education on financial responsibility.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1736927411244\"><strong class=\"schema-faq-question\">Who is eligible to open a minor savings account with AU Small Finance Bank?<\/strong> <p class=\"schema-faq-answer\">The account is available for children below 18 with a guardian&#8217;s consent and required documents.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1736927411901\"><strong class=\"schema-faq-question\">What is the minimum balance required for an AU Small Finance Bank Minor Account?<\/strong> <p class=\"schema-faq-answer\">The minimum balance for the AU Small Finance Bank Minor account is INR 500, which is an affordable option for starting savings.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1736927412528\"><strong class=\"schema-faq-question\">What documents are required to open an AU minor account?<\/strong> <p class=\"schema-faq-answer\">To open an AU minor account, the required documents include proof of identity and address for the parent, the child\u2019s birth certificate, documents that establish the parent&#8217;s relationship with the minor, and passport-sized photographs of both.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1736927412995\"><strong class=\"schema-faq-question\">What are the benefits of having a minor account with AU Small Finance Bank?<\/strong> <p class=\"schema-faq-answer\">The AU Small Finance Bank offers competitive interest rates, a minimum balance requirement of INR 500, a debit card for children above 10, and limited online banking.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1736927476767\"><strong class=\"schema-faq-question\">Is the AU minor account a joint account with a guardian?<\/strong> <p class=\"schema-faq-answer\">Yes, the AU minor account is a joint account with a parent or guardian, allowing them to monitor and manage the account.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1736927478429\"><strong class=\"schema-faq-question\">What is the interest rate offered on the AU Small Finance Bank Minor Account?<\/strong> <p class=\"schema-faq-answer\">The AU minor account offers an interest rate of up to 7.25% per annum, providing good returns on savings.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1736927478761\"><strong class=\"schema-faq-question\">Is there a debit card issued with the AU Small Finance Bank Minor Account?<\/strong> <p class=\"schema-faq-answer\">Yes, with the AU Small Finance Bank Minor account, children over 10 years old are issued a debit card with a limited spending limit and additional offers.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1736927479881\"><strong class=\"schema-faq-question\">Can parents set limits on the minor account\u2019s transactions in AU Small Finance Bank?<\/strong> <p class=\"schema-faq-answer\">Yes, parents can monitor transactions with AU Small Finance Bank. They can also set daily transaction limits on a minor\u2019s account and apply safeguards to prevent overspending.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1736927480557\"><strong class=\"schema-faq-question\">Do I need to have an account with AU Small Finance Bank to open a minor account?<\/strong> <p class=\"schema-faq-answer\">Yes, parents must have an account with the bank to open the\u00a0 AU Small Finance Bank Minor Account.<\/p> <\/div> <\/div>\n\n\n\n<p>To learn more about <a href=\"https:\/\/fly.finance\/loans\"><strong>education loans<\/strong><\/a>, the best <a href=\"https:\/\/fly.finance\/international-bank-account\"><strong>bank accounts for students<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/fly.finance\/forex\"><strong>forex,<\/strong><\/a> banking experience for global students, or international money transfers, reach out to our experts at 1800572126 to help ease your experience with studying abroad.<\/p>\n\n\n\n<figure 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href=\"https:\/\/fly.finance\/blog\/student-account\/debit-cards\/ubi-international-debit-cards-benefits-types-limits-charges\/\"><strong>UBI International Debit Cards<\/strong><\/a><\/td><td><a href=\"https:\/\/fly.finance\/blog\/student-account\/debit-cards\/standard-chartered-bank-debit-cards-features-benefits\/\"><strong>Standard Chartered Bank Debit Cards<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/student-account\/debit-cards\/paypass-international-debit-cards-meaning-banks-charges-usage\/\"><strong>PayPass International Debit Cards<\/strong><\/a><\/td><td><a href=\"https:\/\/fly.finance\/blog\/student-account\/debit-cards\/axis-bank-international-lounge-access-debit-cards\/\"><strong>Axis Bank international debit cards with lounge access<\/strong><\/a><strong>.<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/student-account\/debit-cards\/icici-debit-card-charges-for-international-transactions\/\"><strong>ICICI Debit Card Charges for International Transactions<\/strong><\/a><\/td><td><a href=\"https:\/\/fly.finance\/blog\/student-account\/debit-cards\/hdfc-millennia-debit-card-international-transaction-charges\/\"><strong>HDFC Millennia Debit Card International Transaction Charges<\/strong><\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Follow Us on Social Media<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-social-links is-layout-flex wp-block-social-links-is-layout-flex\"><li class=\"wp-social-link wp-social-link-instagram  wp-block-social-link\"><a href=\"https:\/\/instagram.com\/flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12,4.622c2.403,0,2.688,0.009,3.637,0.052c0.877,0.04,1.354,0.187,1.671,0.31c0.42,0.163,0.72,0.358,1.035,0.673 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c7.547,0,11.675-6.252,11.675-11.675c0-0.178-0.004-0.355-0.012-0.531C20.985,7.47,21.68,6.747,22.23,5.924z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Twitter<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-facebook  wp-block-social-link\"><a href=\"https:\/\/www.facebook.com\/Flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12 2C6.5 2 2 6.5 2 12c0 5 3.7 9.1 8.4 9.9v-7H7.9V12h2.5V9.8c0-2.5 1.5-3.9 3.8-3.9 1.1 0 2.2.2 2.2.2v2.5h-1.3c-1.2 0-1.6.8-1.6 1.6V12h2.8l-.4 2.9h-2.3v7C18.3 21.1 22 17 22 12c0-5.5-4.5-10-10-10z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Facebook<\/span><\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>An AU Small Finance Bank minor account is a savings account designed specifically for children under the age of 18. It allows parents or guardians to jointly manage the account, with the child learning h&amp;ow to manage their finances responsibly. The account offers benefits like a debit card with a limited spending limit and access &#8230; <a title=\"AU Small Finance Bank Minor Account: Types, Eligibility, Fees\" class=\"read-more\" href=\"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/\" aria-label=\"Read more about AU Small Finance Bank Minor Account: Types, Eligibility, Fees\">Read more<\/a><\/p>\n","protected":false},"author":34,"featured_media":16971,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[93],"tags":[],"class_list":["post-16970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-student-account"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>AU Small Finance Bank Minor Account: Types, Eligibility, &amp; Fees<\/title>\n<meta name=\"description\" content=\"Learn about the AU Small Finance Bank minor account for your children. 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I am committed to continuously enhancing my knowledge and sharing insights on topics within my areas of expertise.","url":"https:\/\/fly.finance\/blog\/author\/kapil\/"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927410453","position":1,"url":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927410453","name":"What is an AU Small Finance Bank Minor Account?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"AU Small Finance Bank Minor Account is a savings account for children under 18, co-managed with a guardian, featuring a debit card, online banking, and education on financial responsibility.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927411244","position":2,"url":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927411244","name":"Who is eligible to open a minor savings account with AU Small Finance Bank?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The account is available for children below 18 with a guardian's consent and required documents.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927411901","position":3,"url":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927411901","name":"What is the minimum balance required for an AU Small Finance Bank Minor Account?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The minimum balance for the AU Small Finance Bank Minor account is INR 500, which is an affordable option for starting savings.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927412528","position":4,"url":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927412528","name":"What documents are required to open an AU minor account?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"To open an AU minor account, the required documents include proof of identity and address for the parent, the child\u2019s birth certificate, documents that establish the parent's relationship with the minor, and passport-sized photographs of both.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927412995","position":5,"url":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927412995","name":"What are the benefits of having a minor account with AU Small Finance Bank?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The AU Small Finance Bank offers competitive interest rates, a minimum balance requirement of INR 500, a debit card for children above 10, and limited online banking.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927476767","position":6,"url":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927476767","name":"Is the AU minor account a joint account with a guardian?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, the AU minor account is a joint account with a parent or guardian, allowing them to monitor and manage the account.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927478429","position":7,"url":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927478429","name":"What is the interest rate offered on the AU Small Finance Bank Minor Account?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The AU minor account offers an interest rate of up to 7.25% per annum, providing good returns on savings.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927478761","position":8,"url":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927478761","name":"Is there a debit card issued with the AU Small Finance Bank Minor Account?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, with the AU Small Finance Bank Minor account, children over 10 years old are issued a debit card with a limited spending limit and additional offers.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927479881","position":9,"url":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927479881","name":"Can parents set limits on the minor account\u2019s transactions in AU Small Finance Bank?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, parents can monitor transactions with AU Small Finance Bank. They can also set daily transaction limits on a minor\u2019s account and apply safeguards to prevent overspending.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927480557","position":10,"url":"https:\/\/fly.finance\/blog\/student-account\/au-small-finance-bank-minor-account-types-eligibility-fees\/#faq-question-1736927480557","name":"Do I need to have an account with AU Small Finance Bank to open a minor account?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, parents must have an account with the bank to open the\u00a0 AU Small Finance Bank Minor Account.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/16970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/comments?post=16970"}],"version-history":[{"count":8,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/16970\/revisions"}],"predecessor-version":[{"id":20056,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/16970\/revisions\/20056"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media\/16971"}],"wp:attachment":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media?parent=16970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/categories?post=16970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/tags?post=16970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}