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Give your young ones a head start in savings and money management

Future Stars Savings Account (Kids Savings Account)

Axis Bank’s Future Stars Savings Account helps you teach your children the importance of savings and gives them a head start in building a strong financial foundation. The Future Stars Savings Account benefits include a personal accident insurance cover of Rs. 2 Lakh for the account holder (in this case it will be your child) and a Visa Platinum Debit Card. If your child is over 10 years of age, you can also get an image of his / her choice printed on the card.


What is a Bank Account for Minors?


The Axis Future Stars Savings Account is designed to help your child save money from a young age. This savings account can help your child learn how to save, from a young age and can help fulfil their financial goals and obligations, be it their future education and career aspirations or their health and well-being.

Help your child secure their future and all their aspirations through this savings account that offers numerous benefits while enabling them to create a savings corpus till the age of 18 years and earn interest on their savings as well!

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How does a Kids Savings Account work?


A kids bank account can be opened for children on a joint basis. If the child is below 10 years of age, the account will need to be operated by the guardian. Children above the age of 10 years can open on their own or jointly with their parent/guardian.

This savings account helps the child learn how to make transactions and save money regularly until the age of 18 years, and the balance amount in the account will continue earning interest thereafter. These funds can be utilised by the child for various purposes such as their education or any other lifestyle needs.

Children below the age of 10 years receive an ATM card with a daily withdrawal limit of ₹ 1,500 While children above 10 years of age are eligible to receive a personalised Visa Platinum debit card when they open the account. The debit card comes with a daily ATM withdrawal limit of ₹1500 so that one can keep track of their savings.

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Advantages of a Kids Bank Account


The Future Stars Savings Account offers a host of benefits, some of which are:

  • Attractive interest rates on daily balances between 3.00 – 3.50%
  • Low average monthly balance requirement for the savings account
  • A personal accident insurance cover worth ₹2 lakh
  • A Visa Platinum debit card with the Future Stars Savings Account
  • Low issuance charge for the debit card for easy banking
  • A daily ATM withdrawal and POS limit of ₹1500 on the debit card
  • Liability protection of up to ₹50000 for the debit card
  • Option to personalise the debit card with one’s image
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Future Stars Savings Account Fees and Charges


Here are the details of basic fees and charges applicable for kids bank account:

  • Visa Classic Debit Card Issuance / Annual Fee is Rs 200.
  • Cash Transaction charges:
    • Beyond the first 4 transactions or Rs 1 lakh/month, Rs 5 per Rs 1000 or Rs 150 (whichever is higher) shall be charged.
    • Account Closure Fee is Rs 500.
  • IMPS Fees:
    • Up to Rs 1,000 to Rs 1 Lakh - Rs 2.5 per transaction
    • From Rs 1000 to Rs 1 Lakh – Rs 5 per transaction
    • Rs 1 Lakh to Rs 5 Lakh - Rs 10 per transaction
  • NEFT services are free for online savings account for kids and charges for branches are:
    • Up to Rs 10,000 – Rs 2 per transaction
    • Rs 10,001 to Rs 1 Lakh – Rs 4 per transaction
    • Rs 1 Lakh to Rs 2 Lakh – Rs 14 per transaction
    • Above Rs 2 Lakh – Rs 24 per transaction
  • Axis / Non-Axis ATM financial transaction fee beyond limits is Rs 21 per transaction.
  • Axis / Non-Axis ATM non-financial transaction fee beyond limits is Rs 10 per transaction.
  • Card Replacement Fee is Rs 200.
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Special benefits when you open Savings Account for kids


  • You can automate funds transfer from your account to your child’s account for effortless money management.
  • You can simply swipe your card once every 6 months to access insurance coverage for Rs 2 lakh (subject to T & C).
  • You can enjoy combined lost card liability & purchase protection liability of up to Rs 50,000 for added security and peace of mind.
  • You can also participate in the eDGE Loyalty Rewards Program and earn points on various transactions and redeem them for rewards across multiple categories.
  • You can personalise your card with the image of your choice if you are above 10 years old, adding a touch of personality to your banking experience.
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How to maximise earnings from a Future Stars Savings Account?


  • When you open a Future Stars Savings Account, you earn interest daily on the end of day balance amount at the prevailing interest rates. The interest is credited to your account on a quarterly basis.
  • The funds in this minor savings account continue earning interest even after the child completes 18 years of age. The account is a safe and secure place to park your funds for future use.
  • As a parent or legal guardian of the minor account holder of this savings account, you can transfer funds from your bank account to the Future Stars Savings Account.
  • The daily ATM withdrawal limit of ₹1500 on the free Visa Platinum debit card that can be issued to the savings account helps keep a check on the expenses.
  • While you have the benefit of opening the account with a low deposit, a higher balance in the account will translate to higher earnings through the interest rates.
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Future Star Childs Savings Account Interest Rates


The minor savings account interest rates on the Future Stars Savings Account will be calculated daily on the end of day balance in the savings account and will be credited to the savings account on the first day of the next quarter. Effective June 01, 2022, we offer an interest rate of between 3% and 3.5% on the Future Stars Savings Account, subject to the daily balance maintained in the account.

If you earn an interest of up to ₹10000 on your Future Stars Savings Account during a financial year, this interest will be tax-free.

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How to open a Bank Account for Minor online?


To open the Future Stars Savings Account online, you can visit the Future Stars Savings Account page to schedule a call back to be guided on the account opening process. You can also choose to open the account offline and then operate it through Axis Bank’s internet and mobile banking facility. For that, you will have to submit:

  • The duly filled account opening form
  • One latest passport-size photograph
  • Proof of your child’s date of birth
  • Documents for proof of address and identity
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Do's and Don'ts for Bank Account for minors

When you open a savings account for your child, here is what you can do to keep your child’s savings and their future secure:

Maintain the minimum balance

The average minimum balance for the savings account for children is quite low and nominal. However, it is important to maintain the average balance so that you can continue saving more money without interrupting a disciplined savings habit.

Save funds regularly

The minor savings account is meant to protect your child’s future. Ensure that you save money in this account regularly so that the child develops a savings habit from a young age and, later in life, can use the funds for their education and other needs.

Share account details

The account details and any other financial details should not be shared with another person apart from the individual or joint account holders of the Future Stars Savings Account. Sharing these details or even the account number with a third person can threaten the safety of the account.

Log in from shared devices

Logging into your Future Stars Savings Account from shared computers or devices can put your account security at risk due to passwords being saved. Instead, always use your own computer or mobile phone to log in and after every session, remember to log out without fail.

Frequently Asked Questions

The Future Stars Savings Account is meant for children below 18 years of age. This savings account can be opened and operated jointly with a parent or a legal guardian if the child is below 10 years of age. Once the child is above 10 years of age, they can open and operate the account independently.

The minimum opening deposit for this savings account for children is ₹1,000 in rural locations, while for other locations, it is ₹2,500.

The Future Stars Savings Account allows for easy transfer of funds from the bank account of the parent or the guardian to the child’s savings account.

A child above the age of 10 years will have to jointly open a minor account with their parents or guardian but can independently operate their own Future Stars Savings Account. For children below 10 years of age, a minor account can be opened and operated by the parent/ guardian on behalf of the child.

Yes, the minor can have a primary Visa Platinum debit card or a joint Visa Platinum debit card on their minor savings account. The issuance fees for the primary card or the joint debit card are ₹200, while the annual fees for the primary and joint debit card are ₹150 (metro/urban/semi-urban) and ₹100 (rural).

If you want to open a children’s future savings account online, then you can visit the Future Stars Savings Account page and schedule a call back for the account opening process.

The interest on a Future Stars Savings Account is calculated daily on the end of day balance in the account and the interest is paid out quarterly on the first day of each quarter. Only the fourth quarter of the financial year, the interest pay-out will be made on the last day of the quarter.

The interest rate on the Future Stars Savings Account will be calculated on end of day balance in the account and will be paid out in your account on the first day of the upcoming quarter.

An Average Monthly Balance (AMB) is the end of the day balance for the entire month divided by the number of days. However, the interest pay-out in Future Stars Savings account is made on quarterly basis.

The Future Stars Savings Account has an average balance requirement of ₹2,500 for metro, urban and semi-urban locations and ₹1,000 for rural locations.

A Future Stars Savings Account not only creates a savings fund for your child’s future and education but also offers benefits such as personal accident cover worth ₹2 lakh for the child (the account holder).

Your child can also avail of a free ATM card with daily ATM withdrawal limit of ₹1500. In addition, children over 10 years of age are also eligible for a personalised Visa Platinum debit card with their image printed on the card. The first five financial transactions on an Axis Bank ATM and the first three financial and non-financial transactions on a non-Axis Bank ATM are free of cost on the card, while Axis Bank enables unlimited non-financial transactions at any Axis Bank ATM.

To deposit money into your Future Stars Savings Account, you can simply visit the bank and fill out a deposit slip with the amount to be deposited into the account. Alternatively, as a parent or guardian of the child, you can also opt for automated fund transfers from your bank account to the child’s savings account or make a cash deposit at the ATM.

You can receive the statement for your Future Stars Savings Account on a monthly basis for all the transactions and activities in the previous month.

You can submit an account opening form along with the following documents to open a Future Stars Savings Account for your child:

  • One latest passport-size photograph
  • Proof of your child’s date of birth
  • Documents for proof of address and identity

Your child can make ATM withdrawals from the Future Stars Savings Account with the Visa Platinum debit card as per their needs. The first five financial transactions on an Axis Bank ATM and the first three financial/non-financial transactions on a non-Axis Bank ATM are free of cost on this card, while Axis Bank enables unlimited non-financial transactions at any Axis Bank ATM.

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