Bal Ganesh Yojana

Bal Ganesh Yojana is a Savings Bank Account scheme for minor children offered by Suvarnayug Sahakari Bank Ltd. The scheme is designed to promote savings among minors and is operated strictly in accordance with RBI guidelines and applicable banking regulations.

Bal Ganesh Yojana

Eligibility :

  The account may be opened in the name of a minor. The account shall be operated by the parent or legal guardian of the minor. Self-operation by the minor may be permitted in eligible cases, as per Bank policy and RBI guidelines.

Documents Required :

  Birth Certificate of the minor

  Aadhaar Card of the minor (if available)

  Aadhaar Card and PAN of the parent / guardian

  Passport-size photographs

  Any other documents required under KYC norms prescribed by RBI

KYC Compliance :

  KYC of the parent / guardian is mandatory at the time of account opening.

  Minor’s KYC shall be completed as per RBI Master Directions on KYC.

  Periodic updation of KYC shall be applicable.

Operation of Account :

  The account shall normally be operated by the guardian on behalf of the minor.

  In case of self-operated minor accounts, operations shall be permitted subject to Bank rules and internal controls.

  The Bank reserves the right to restrict operations in case of non-compliance.

Transaction Limits :

  Deposits and withdrawals shall be subject to limits prescribed by the Bank from time to time.

  Transaction limits shall be in line with RBI guidelines and internal risk assessment.

Interest Rate :

  Interest shall be paid at the prevailing Savings Bank interest rate, as decided by the Bank from time to time.

  Interest rates are subject to change as per Bank policy.

On Attaining Majority :

  On attaining the age of 18 years, the account holder shall submit fresh KYC documents.

 The account shall be converted into a regular Savings Bank Account after completion of required formalities.

Nomination :

  Nomination facility is available as per Banking Regulation Act and RBI guidelines.

General Conditions :

  This scheme is subject to rules, regulations, circulars, and instructions issued by RBI and the Bank from time to time.

  The Bank reserves the right to modify, suspend, or discontinue the scheme without prior notice.

  All services are subject to operational, technical, and regulatory constraints.

Disclaimer :

  This information is provided for general reference only and does not constitute a contractual obligation. Detailed terms and conditions are available at the Bank branches.