The minimum age required to open a saving bank account in India is:1).

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1.	The minimum age required to open a saving bank account in India is:1). 1 month2). 6 months3). 5 years4). 8 years
Answer» As per the notification ISSUED by RBI in 2014, the banks were advised to allow minors’ accounts (fixed and savings deposit accounts) with mothers as guardians to be opened. A savings / fixed/recurring bank deposit ACCOUNT can be opened by a minor of any AGE through his/her natural or legally appointed guardian. Minors above the age of 10 years may be allowed to open and operate savings bank accounts independently if they so desire.

The minimum age required to open a saving bank account in India is:1). 1 month2). 6 months3). 5 years4). 8 years

Answer»

As per the notification ISSUED by RBI in 2014, the banks were advised to allow minors’ accounts (fixed and savings deposit accounts) with mothers as guardians to be opened.

A savings / fixed/recurring bank deposit ACCOUNT can be opened by a minor of any AGE through his/her natural or legally appointed guardian.
Minors above the age of 10 years may be allowed to open and operate savings bank accounts independently if they so desire.

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The minimum age required to open a saving bank account in India is:1). 1 month2). 6 months3). 5 years4). 8 years

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