Gateway to Digital Life. Download AU 0101.

AU Kids Savings Account

Specially curated for your children

Apply For Kids Savings Account

First & Last Name
Mobile Number
Email ID
12 + 15

Top Features of Kids Savings Account

About Kids Savings Account

    As a parent, one of your prime ambitions is to create a stable financial future for your children. This is where a Kids Savings Account plays an important role. Opening a Savings Account for your child not only helps build a sizable corpus in due time but can also help them understand the value of money and disciplined savings.

    With a high-interest rate and monthly interest payout, great offers on the Visa Gold AU Kids Account Debit Card, added insurance benefits, and family banking options, our AU Kids Savings Account is ideal for helping your children achieve their future goals.

Open Account

Features of an AU Kids Savings Account

Our AU Minor Savings Account has many useful features for your child, such as:
  • High-interest rates: Earn up to 7%* p.a. on your Savings Account & receive monthly interest payouts. For details, visit Savings Account Interest Rates
  • No account balance non-maintenance charges: There is no account balance non-maintenance charge on the child’s account.
  • Banking at your convenience: No need to visit a branch; now get all your banking transactions & other service requests executed from the comfort of your home with the help of our Video Banking facilities.
  • Easy pulling of funds: Set up a recurring fund transfer facility to your kid’s account hassle-free.
  • 24x7 Banking: Use AU 0101 App / NetBanking and Phone Banking at your convenience with the 24x7 ‘anywhere banking’ feature.
  • Customized limits: Enjoy the freedom and flexibility to customize the card’s limit for your child’s usage.

Benefits of an AU Kids Savings Account

Here are some benefits of our AU Kids Account:
  • Feature-rich Debit Card: The VISA Gold Debit Card unlocks 1000+ offers across leading brands and can be issued to children above 10 years of age.
  • Extended banking hours: Need to visit your branch post 4 pm? Worry not! Enjoy extended banking hours and visit any AU Small Finance Bank branch till 6 pm^.
  • No deposit slip: Deposit money in your child's account without filling deposit slips. The process is quick and smooth.
  • Enhanced insurance coverage: Avail of multiple insurance benefits with your Debit Card such as card liability insurance, purchase protection, and personal accident cover.

Eligibility Criteria

If your child is a resident of India, is under 18 years of age, and has the necessary government-issued KYC documents, he/she can open an AU Kids Savings Account.

How to apply for an AU Kids Savings Account?

You can open a children’s bank account with us, India’s largest Small Finance Bank, online by following a few easy steps as given below:
  • Online form: Fill the online form, and our representative will contact you to get your application process started.
  • Visit your nearest branch: Walk into the closest AU Small Finance Bank branch with your KYC documents and passport-sized photographs. You can fill in the application form at the branch to get the process started.

Service Fees for AU Kids Savings Account

We, India's best Small Finance Bank, believe in complete transparency and provide you with a list of charges for the services we offer. These include charges for your Debit Card, payment and collection services, transactions, and delivery fees. For more details, please refer to our Service Fees.

Recommended products:

AU Digital Savings Account, AU Platinum Account, AU Royale Account

^Not applicable in some select locations. To know your branch timings, click here.



Q1. What is a Kids Savings Account?

A minor’s savings bank account is a Savings Account for children under the age of 18 years. Such an account can be used by the child and managed by a parent or guardian. The interest rate is generally high, and the child can use the account to save money and multiply it with monthly interest. A Kids Savings Account can be used to teach children the importance of saving money and using it rationally.

Q2. What is the interest rate on the AU Kids Savings Account?

Our Kids Savings Account interest rates are competitive and slightly higher than those of other banks. Click here to understand more about Savings Account interest rates.

Q3. At what age can a child have a savings account?

Children under the age of 18 years can open a Kids  Savings Account.

Q4. Are Kids Savings Accounts tax-free?

Typically, children have no earned income. Therefore, the interest earned from a Kids Savings Account is taxed under your gross income as per the applicable tax slab. The interest is added to ‘Income from Other Sources’ for you. However, if the child is earning, you can claim a tax exemption of INR 1500 per minor child under Sec 10(32) of the Income Tax Act, 1961.

* Terms and Conditions apply. Rates are subject to change at the sole discretion of AU Small Finance Bank.

Blogs & Articles