In a major change in its guidelines for opening and operating of bank accounts and other banking services by minors, the ...

Lawrence “Larry” Sprung, CFP®, is a banking expert, the founder and wealth advisor at Mitlin Financial, Inc®, the author of the Amazon bestselling book ... Bank because its savings account ...

The RBI has now permitted banks to allow minors above the age of 10 to open and operate savings / term deposit accounts ...

Earlier, while minors were allowed to open savings account only, now they can open both savings and term deposit accounts.