From Piggy Banks to Bank Accounts: Why should you let your children manage their Savings Account?

1. Grow money

Encourage your children to elevate their savings game with a Savings Account. Explain to them how saving via a bank account is different from saving via a piggy bank. Explain to them how they are earning interest on the balance in their savings account, periodically. This will motivate them to save more.

2. Goal-based savings

Savings Accounts are one of the best ways to encourage goal-based savings. Let them save for their school trip, birthday party, or any other goal that they are excited about. Appreciate them when they accomplish their goals, thus giving them a sense of responsibility.

3. Familiarity with Debit Card

Give your children the freedom to access their savings via a Debit Card under your thorough monitoring. With Suryoday SFB Next Gen Savings Account, they will get a RuPay Classic Debit Card with an ATM limit of ₹3,000 per day and POS & E-Com limit of ₹2,000 per day, which can be limited as per need. Let them occasionally withdraw or make in-store payments to build familiarity with Debit Cards.

4. Familiarity with Internet Banking / Mobile Banking (IB/MB)

We all enjoy the convenience of Internet and Mobile Banking. They let you transact in real time and do more with your savings. Teaching your children smart ways to use these services is essential in today’s era.

5. Familiarity with online payments

Let your child make an occasional bill payment or fund transfer under parental guidance. Securely making payments is an important banking lesson your child must know.

6. Keep a bird's-eye view

With thoughtful features like a lower ATM and POS limit and free access to IB/MB, the Suryoday SFB Next Gen Savings Account allows you to monitor your child’s account and give your invaluable guidance.

7. Boosts confidence

Financially well-informed children will be equipped to make better money decisions as adults. Building their money management foundation strong will make them confident.

Explore our Suryoday SFB Next Gen Savings Account for your child and practically teach them the fundamentals of digital money management.