A minor account cannot be operated from the date the minor turns major and the account will remain in ‘Freeze' status until citizenship I passport evidencing minor turning major is produced and claim against the account made by account holder. The account balance can be transferred to new account or paid in cash if the account holder wishes to close the account. For both cases, account holder along with the guardian should visit the bank in person for processing the same.
- To open a new account, a copy of citizenship / passport evidencing minor has turned major, and a fresh set of account opening form signed by the account holder along with an application from the guardian should be obtained and then the remaining amount should be transferred to the new account.
- If the customer wishes to close the account, a copy of citizenship / passport evidencing minor has turned major, and an account closing request along with application signed by both minor and his/her guardian should be obtained and then the remaining amount can be paid in cash or via manager's cheque.
Minors may operate the accounts only upon the attainment of majority depending on the product paper of the account along with fresh set of Bank’s standard Account Opening Form signed by the account holder along with the citizenship certificate and relationship certificate with the guardians (other than Father or Mother). lf minor account has been opened in Minor Scheme such account should be closed, and account balance should be transferred to new account opened in other general scheme. lf minor account has been opened in other general scheme, same account can be changed to major account.