Young Stars is a banking service for children, aged 1day -18 years, brought to you by ICICI Bank to help the parents meet the present and future aspirations that they hold for their child. It offers various savings and investment options to the parent along with teaching the child to manage his/her personal finance in a more responsible and independent manner.
Young Stars will guide your child through the world of banking -through checking the account balance, fun zones and special pages on the internet. It makes banking a pleasure and of course teaches your child to manage their personal finances.With the pocket money that you transfer to your child's account, you can even shop with him / her at Young Stars very own shopping page.
You can even open a recurring deposit in your child's name.
Once you are done with your 'banking', you can access your child's account with all the fun links to special zones designed to suit your child's area of interests and also impart knowledge on the current events of the world.
Salient features:
1. Option of a Savings Bank account, Fixed Deposit account or Recurring Deposit account.
2. Minimum balance at Rs. 500/- per quarter for Savings Bank.
3. A special Recurring Deposit account with additional features as below:
i The parent would put forward the desired amount to be earned at the end of the tenure
ii Based on the prevailing rate of interest, the bank staff would then back calculate the installments to be deposited now till maturity.
4. Free personalized chequebook
5. Free Domestic Debit Card* for the child above the age of 10 years with features as below:
a Daily withdrawals limits of Rs. 1,000/-
b Daily spend limits of Rs. 1,000/-
c Special privileges across select alliance partners outlets.
6. Facility to invest in GOI Relief Bonds and Mutual Funds, as GOI Relief Bonds have been discontinued.
7. Free Internet banking.
a Separate user ids and passwords for both parents and children
b Access to special zones and links to related websites for making internet banking a memorable experience.
8. Facility to transfer funds from parent account to kid account to enable parents to inculcate savings habit amongst children.
9. Facility of transferring funds from the Young Stars accounts to the RD to enable the parents to let their child earn more.
10. Alliances with various partners to meet the child's needs in varied interest areas such as clothing, computers, books, music, toys etc.
* Available for children above the age of 10 years only.
Eligibility:
Young Stars is a banking service for children in the age group of 1day -18 years and parent/guardian maintaining saving account with ICICI Bank.
Documentation:
(A) Identity Proof
- Verified true copy of valid passport.
- School identity card
- Date of birth Id
(B) Proof Of Communication Address
:
-Latest electricity bill.
-Latest telephone bill.
-Passport .
-Birth Certificate .
-Current lease agreement.
-Consumer gas connection card.
-Residential certificate mentioning name and address of the applicant issued by municipal corporation/local body etc.
-Certificate from ward officer, maintaining election roll, certifying address of the applicant.
-Latest certificate (not more than 3 months old) from the postal office confirming address of the applicant.
-Letter from employer certifying the residential address of the employee as recorded in their books.
-Proof of date of birth of the minor for Debit Card and Internet banking.
-Latest statement of account from a credit card issuing company.
-Latest premium receipt from any life insurance company.
Young Stars will guide your child through the world of banking -through checking the account balance, fun zones and special pages on the internet. It makes banking a pleasure and of course teaches your child to manage their personal finances.With the pocket money that you transfer to your child's account, you can even shop with him / her at Young Stars very own shopping page.
You can even open a recurring deposit in your child's name.
Once you are done with your 'banking', you can access your child's account with all the fun links to special zones designed to suit your child's area of interests and also impart knowledge on the current events of the world.
Salient features:
1. Option of a Savings Bank account, Fixed Deposit account or Recurring Deposit account.
2. Minimum balance at Rs. 500/- per quarter for Savings Bank.
3. A special Recurring Deposit account with additional features as below:
i The parent would put forward the desired amount to be earned at the end of the tenure
ii Based on the prevailing rate of interest, the bank staff would then back calculate the installments to be deposited now till maturity.
4. Free personalized chequebook
5. Free Domestic Debit Card* for the child above the age of 10 years with features as below:
a Daily withdrawals limits of Rs. 1,000/-
b Daily spend limits of Rs. 1,000/-
c Special privileges across select alliance partners outlets.
6. Facility to invest in GOI Relief Bonds and Mutual Funds, as GOI Relief Bonds have been discontinued.
7. Free Internet banking.
a Separate user ids and passwords for both parents and children
b Access to special zones and links to related websites for making internet banking a memorable experience.
8. Facility to transfer funds from parent account to kid account to enable parents to inculcate savings habit amongst children.
9. Facility of transferring funds from the Young Stars accounts to the RD to enable the parents to let their child earn more.
10. Alliances with various partners to meet the child's needs in varied interest areas such as clothing, computers, books, music, toys etc.
* Available for children above the age of 10 years only.
Eligibility:
Young Stars is a banking service for children in the age group of 1day -18 years and parent/guardian maintaining saving account with ICICI Bank.
Documentation:
(A) Identity Proof
- Verified true copy of valid passport.
- School identity card
- Date of birth Id
(B) Proof Of Communication Address
:
-Latest electricity bill.
-Latest telephone bill.
-Passport .
-Birth Certificate .
-Current lease agreement.
-Consumer gas connection card.
-Residential certificate mentioning name and address of the applicant issued by municipal corporation/local body etc.
-Certificate from ward officer, maintaining election roll, certifying address of the applicant.
-Latest certificate (not more than 3 months old) from the postal office confirming address of the applicant.
-Letter from employer certifying the residential address of the employee as recorded in their books.
-Proof of date of birth of the minor for Debit Card and Internet banking.
-Latest statement of account from a credit card issuing company.
-Latest premium receipt from any life insurance company.