Canara Bank has a new savings account facility for youngsters over the age of 10 to make sure that they have a positive first experience with banking.
Imagine that after becoming a major, you start a business, and you need to provide an account number.
1. The minor and the guardian who opened the account must both make a personal trip to the bank.
2. Minors must provide their PAN information. If the applicant’s PAN was created when they were still minors, they will need to recreate it.
3. Subsequently, their account status will need to be changed from minor to major. 4. Completed the KYC process and are ready to submit it.
5. You can obtain a status change form from the bank to convert a minor account to a major account after completing the KYC procedures with the bank.
6. After receiving the form, complete it with the essential information and get your banker to stamp it. Additionally, the banker must attest to their signature on it.
7. Submit the form to the RTA’s office along with the other required KYC documents and a copy of your PAN card.
8. The minor must also give a letter requesting the change of their minor account to a major account to the bank manager.