Tamilnad Mercantile Bank TMB : Little Super Star Savings Account Scheme

Name of the organisation :Tamilnad Mercantile Bank Ltd
Type Of Facility :Little Super Star Savings Account Scheme

Home Page :http://www.tmb.in/savings_littlestar/here_is_our_only_exclusive_for_kids_savings_bank_account_scheme.html
Download here :https://www.statusin.in/uploads/846-sblss_app_form_01.pdf

Little Super Star Savings Account Scheme :

** here is our only exclusive for kids savings bank account scheme
** Kids are the future of our nation and it is imperative to inculcate the habit of routine & disciplined savings in children at a very early age.

Related : TMB Mahila Subha Savings Scheme for women : www.statusin.in/862.html

** It is our desire to play an active role in fulfilment of this objective for a better future of the kids & our nation at large. We are sure millions of kids will benefit from this innovative SB account.
** Find below the complete exhaustive details of the savings account scheme exclusively designed with the needs and aspirations of kids in mind.

Product Highlights :
Target Group :
** Children – Above the age of 10 years to 18 years.

Purpose :
** To inculcate saving habits among Children.

Eligibility :
** Minors* aged above 10 Years to 18 Years (*Minor is a person who has not attained the age of 18 years, if the Father or Mother acts as a guardian (Natural Guardian) and not attained the age of 21 years, if the guardian is appointed by a court.). The minor must be able to read and write either in English or in a regional language and must be able to put a uniform signature.

Mode of Operation
** Singly by Minor or Singly by Guardian.
** Minimum Average Balance (MAB) Rs. 250.00

Limiting the facilities provided to Basic Services for non maintenance of MAB :
NIL for first year.
** Thereafter, failure to maintain minimum average balance leads to limiting the “Charge free services” extended to the Customer during the period of non-maintenance as under :
** Privileges / Basic Services available on such accounts on account of not maintaining the stipulated minimum balance will be limited to the following basic services as under and all the features will be restored when the balance improves to the minimum required level :

VISA ATM Card / Debit Card :
** Free (Guardian has to sign an undertaking to agree that Withdrawal through ATM is binding on him as well as on minor).
** In case of minor’s account whether self operated or otherwise, nomination should be made by a person lawfully entitled to act on behalf of the minor. Hence the nomination form so submitted should be signed by the person lawfully entitled to act on behalf of the minor by nominating himself or any other person to receive the money in the event of minor’s death.

Special Features
** Transfer of funds from parents / guardians account to the children’s account and vice versa allowed.
** Free Personalized Cheque Book of 10 leaves per year.
** Free DD for a limit up to Rs. 1 lakh per annum for School / college fees / Bus fees / Hostel fees remittance through Minor’s Account or Parents Savings Account with our branch.