It is never too late to save for a child’s future. And it is never too early to have the money talk. Start your child on the most suited financial path through SBM Amigos*. Teach your children about financial literacy and smart money management that will help them develop strong financial habits for life.
SBM Amigos is open to clients aged between 0-17 years with the following features
- No minimum balance require for account opening
- Minimum Interest earning balance: Rs 500
- Interest is payable half-yearly
- Parents can set up free standing order ( saving regularly is the easy way to grow your child’s savings)
- Statement of account mailed half-yearly to keep track of savings balance
- Debit Card [12 years & above]
- TopUp your phone through SBM TopUp - Anytime , Anywhere, Anyone
- Free access to internet banking and Mobile Banking
- The SBM Amigos account is automatically converted into a regular SBM Savings Account once your child turns 18.
How do I open an account?
The account can be opened by the minor’s father or mother who will act as legal guardian.
How often are statements sent to customers?
- Statements of account will be mailed to each account holder on a half-yearly basis. E-Statement facilities are available as well.
- The account holder may retrieve mini-statements from any of the Bank's ATMs
- Balance enquiry can be made at any ATM, through Internet Banking ,SMS Banking or Mobile Banking App