Savings Account Kids FAQs

The ICICI Bank Savings Account for Kids is a specialised minor savings account designed to help children learn the value of money and the habit of saving from an early age. It offers three modes of operation — Guardian Operated, Self Operated (with guardian consent) and Independent (without guardian consent) — so that as your child grows, their level of financial independence can grow too.

ICICI Bank currently offers: ICICI Bank

• Guardian Operated – The parent/guardian opens and operates the account on behalf of the child (age: 1 day to <18 years).
• Self Operated (with guardian consent) – Minors aged 10–18 years operate the account themselves with fixed annual debit limits as per enrolled programme.

Independent (self-operated without guardian consent) – Minors aged 10–18 years operate the account independently with a fixed annual debit limit

The primary goal is to teach children how to save, spend wisely and understand banking basics, while allowing parents to plan for the child’s future. Guardian-operated accounts help parents save early for education or life goals, while self-operated/independent accounts help older kids learn budgeting, digital payments and responsible use of a debit card.

When the minor turns 18, the Kids Savings Account must be converted into a regular Savings Account in the child’s own name. You can seamlessly upgrade your child’s ICICI Bank account to a Major Account. Click here for more details.

For many minor accounts, the guardian’s KYC is primary. Where PAN/Aadhaar of the minor is available, it may be requested as well, especially for older minors in self-operated or independent mode.

Yes, but in such cases the guardian may be required to open a Savings Account with ICICI Bank along with the child’s account. Parent and child accounts can often be opened simultaneously, especially for guardian-operated mode

Yes. At the time of converting the minor account into a regular adult savings account, fresh KYC documents of the now-major customer will be required, and operating instructions will be updated accordingly. ICICI Bank

Generally, you’ll need:

• Child’s proof of date of birth (birth certificate, passport, etc.)
• Guardian’s KYC documents – identity and address proof (Aadhaar, PAN, Passport, etc.)
• Recent passport-size photograph of the guardian (and child in case self-operated account)
• A signed declaration from the guardian and minor in case of self-operated account

Exact documentation may vary slightly basis mode of operation.

If the annual debit limit is breached on a self-operated account, the bank may place a freeze on further debit transactions. To remove the freeze, the minor and guardian may need to visit the branch and upgrade the account programme or change mode of operation as per current policy. ICICI Bank

If the account is not converted to a major account after age 18, the debit transactions for the account are restricted until the necessary KYC and account-conversion formalities are completed. It is always advisable to visit the branch soon after the child’s 18th birthday to regularise the status.

ICICI Bank Savings Account interest rates are fixed. The interest is calculated as per the daily End Of Day (EOD) balance and credited quarterly at the end of March, June, September and December. Click here to know interest rate offered on ICICI Bank Savings Account.

You can either:

• Click “Apply” / “Know More” on the Kids Savings Account page on ICICI’s website, or

Visit your nearest ICICI Bank branch with your child and required documents.

Yes. Each eligible child can have their own Kids Savings Account. Parents often open separate accounts to clearly differentiate each child’s savings and goals. ICICI Bank+1