Secure your child's future with exclusive features of SIB GenNext Savings Account:

Convenient Banking Services:
- WhatsApp Banking for instant updates
- Mobile and Internet Banking for easy monitoring
Unlimited SIB ATM Transactions: Make withdrawals without limits at SIB ATMs.
Free Essentials:
- Visa Classic NFC Debit Card with no issuance charges.
- Complimentary cheque book & more.
Instant Transactions: IMPS/UPI facilities for effortless payments.

You must meet the following eligibility requirements to open an SIB GenNext Savings Account:

Anyone under the age of 18 years (minor) is eligible

You need to provide the following documents to open the SIB GenNext Savings Account

Identify Proof: Passport, Voter's ID, Aadhaar Card, or any other government-issued ID
Address Proof: Aadhaar Card, Passport, Utility Bills, etc
PAN Card/Form 60: Mandatory for opening the account

Opening your SIB GenNext Savings Account is easy and effortless. You can choose any of the below modes for account opening which suits your convenience.

Offline Mode:

Visit your nearest South Indian Bank branch
Fill out the Account Opening Form
Submit necessary KYC documents

Online Mode:

Visit SIB Video KYC Portal
Verify your identity using PAN & Aadhaar
Complete KYC via video call
Deposit funds to activate your account

Please find below the fees and charges of SIB GenNext Savings Account:

Initial Funding	Rs. 5,000/-
Average Balance Requirement	Rs. 5,000/-
Debit Card Issuance Charges	Nil
Other Bank ATM Usage	5 Free transactions per month.

Frequently Asked Questions

To get answers to the frequently asked queries

SIB Gen Next is a savings account designed for minors from birth up to 18 years. It helps inculcate a savings habit in kids while offering features tailored for their financial needs.

For minors from birth to 10 years, the account must be operated by a natural guardian. For minors aged 10 years and above, the account must be self-operated or by a natural guardian.

The required AMB for SIB GenNext account is Rs 5,000/-. However, the AMB condition is waived if the parent maintains Rs 10,000/- or more in their savings account.

You will require the guardian’s CIF ID, KYC documents of both the guardian and the minor, and Guardian Declaration Form to open an SIB GenNext account.

With this account, the account holder gets a free Visa Classic NFC International Card with a daily ATM withdrawal limit of Rs 5,000 and a daily shopping limit of Rs 10,000. The debit card also comes with the Tap and Pay option of up to Rs 5,000 per transaction (5 transactions per day).

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SAVINGS ACCOUNT

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