Any students below age eighteen years can open this scheme in his/her own name by depositing first installment. Parents or legal guardian of the students will operate the scheme on behalf of the students. During opening of the scheme students have to submit two copies of passport size photographs, birth registration certificate, attested copies of institutional identity card/certificate issued by educational institute/receipt of school fees of latest month of the students.

•  Two copies of passport size photographs, birth registration certificate, attested copies of institutional identity card/certificate issued by educational institute/receipt of school fees of latest month of the students
•  Passport size Photographs of Legal Guardian
•  One copy of Passport Size Photograph of Nominee duly attested by the Legal Guardian

•   Scheme can be opened at any working day of the month by depositing first installment at any working day. Second and subsequent installments must be deposited within 28th of every month. If 28th day of the month is holiday, installment must be deposited at previous working day.
•   Scheme can be opened through our any branch/agent point. But encashment of this scheme shall be made in the scheme maintaining branch.
•   Installment can be deposited in any branch/agent point of the bank by cash or transfer from customer’s account upon instruction. Any number of installments can be deposited in advance.
•   In case of failure to deposit installment in due time, depositor will have to pay 5% late fee with overdue installment for each month.
•   Customers of ten years scheme will get a bonus equivalent to one month installment for depositing 120 installments in time.
•   If depositor fails to deposit six consecutive installments then scheme will be closed.
•   All government tax, levy, duty or surcharge etc. applicable to the scheme will be deducted from encashment value of the scheme.

Download Account Opening Form