• Fino Payments Bank Limited (FPBL) has launched a savings bank account ‘Bhavishya’ for minor children aged between 10 and 18 years to make children banking ready from early age and inculcate a savings habit among them.
• Bhavishya is an annual subscription-based savings account, which can be opened with just Rs. 349 (inclusive of GST).
• Initially, the bank is introducing the Bhavishya Savings Account in Uttar Pradesh, Bihar and Madhya Pradesh and gradually it will launch in other states.

Key Features of Bhavishya Savings Account

• Monthly Average Balance requirement : Nil
• Free Platinum RuPay Debit card which can be used at ATMs only to withdraw cash with Aadhaar authentication.
• Accidental Insurance/Permanent disability cover of upto Rs.2 Lakhs linked with Rupay Platinum Debit Card
• Upto 5 free ATM transactions in a month
• Free cash deposit limit upto Rs.25,000 per month
• Free cash withdrawal at Fino Bank branches
• For security reasons minor should have a mobile number that is different from the parent’s number.
• Upon attaining 18 years of age, the BhavishyaSavings Account will be upgraded to regular savings account on submission of Re-KYC with updated info.