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[QUOTE=muthukalee;304275][B][U]Name of the Organisation  [/U][/B]: Tamilnad Mercantile Bank Ltd (tmb.in)
[B][U]Type of Announcement  [/U][/B]: Little Super Star Savings Account Scheme

[URL]http://www.tmb.in/savings_littlestar/here_is_our_only_exclusive_for_kids_savings_bank_account_scheme.html[/URL]
[B][U]Home Page  [/U][/B]: [URL]http://www.tmb.in[/URL]

[B][U]Little Super Star Savings A/C [/U][/B]:
Kids are the future of our nation and it is imperative to inculcate the habit of routine & disciplined savings in children at a very early age. In our desire to play an active role in fulfilment of this objective for a better future of the kids & our nation at large. We are sure millions of kids will benefit from this innovative SB account.

Find below the complete exhaustive details of the savings account scheme exclusively designed with the needs and aspirations of kids in mind.

[B][U]Product Highlights[/U][/B]:
Target Group
    Children - Above the age of 10 years to 18 years.
Purpose
    To inculcate saving habits among Children.
Eligibility
    Minors* aged above 10 Years to 18 Years (*Minor is a person who has not attained the age of 18 years, if the Father or Mother acts as a guardian (Natural Guardian) and not attained the age of 21 years, if the guardian is appointed by a court.). The minor must be able to read and write either in English or in a regional language and must be able to put a uniform signature.
Mode of Operation
    Singly by Minor or Singly by Guardian.
Minimum Average Balance (MAB)
    Rs. 250.00
Limiting the facilities provided to Basic Services for non maintenance of MAB
    NIL for first year.
    Thereafter, failure to maintain minimum average balance leads to limiting the "Charge free services" extended to the Customer during the period of non-maintenance as under:
    Privileges / Basic Services available on such accounts on account of not maintaining the stipulated minimum balance will be limited to the following basic services as under and all the features will be restored when the balance improves to the minimum required level:
    Free Credits allowed into the account - Deposit of cash at bank branch & Receipt / credit through all electronic payment channels or by means of deposit / collection of cheques drawn by Central / State Government agencies and departments.
    Number of free withdrawals allowed - 10 withdrawals are free in a month. (Through all channels including ATM, internal transfers, RTGS / NEFT / Clearing / Internet Transfers / Standing Instructions / EMI). Balance inquiry at ATM shall not be reckoned for the purpose of determining the number of withdrawals. (Rs. 10.00 per withdrawal will be levied for withdrawals exceeding 10 per month. However the number of mandatory free ATM transactions per month for Other Banks ATM is 5 only).

[U][B]VISA ATM Card / Debit Card[/B][/U]
    Free (Guardian has to sign an undertaking to agree that Withdrawal through ATM is binding on him as well as on minor).
Nomination
    In case of minor's account whether self operated or otherwise, nomination should be made by a person lawfully entitled to act on behalf of the minor. Hence the nomination form so submitted should be signed by the person lawfully entitled to act on behalf of the minor by nominating himself or any other person to receive the money in the event of minor's death.
Operational procedure on attaining majority in case of Minor Account operated by Natural / Legal Guardian
    1. On attaining majority, the erstwhile minor should confirm the balance in his / her account and KYC updating is to be done along with fresh mandate on nomination also to be obtained and if the account is operated by the natural guardian / legal guardian, fresh operating instructions and specimen signature of erstwhile minor should be obtained and kept on record for all operational purposes.
    2. On attaining majority, a communication from the bank shall be sent to the customer intimating him / her about the facility of conversion of his account to any type of savings account schemes (Ordinary or Special) with same account number as per the choice of customer. Upon the customer attaining majority, the bank shall have the right to freeze the account & such freeze shall be released only upon the fulfilment of all account opening formalities and rules by the Customer (minor) as applicable for Savings Account Scheme meant for Major's as preferred by the Customer.
Disclaimer Clause
    TMB reserves the right to change / alter / withdraw terms and conditions of the scheme at anytime.
Special Features
        Transfer of funds from parents / guardians account to the children's account and vice versa allowed.
        Free Personalized Cheque Book of 10 leaves per year.
        Free DD for a limit up to Rs. 1 lakh per annum for School / college fees / Bus fees / Hostel fees remittance through Minor's Account or Parents Savings Account with our branch.
        Free Accidental Death Insurance Cover of Rs. 1 lakh to safeguard the future of the child in the event of accidental death of Guardian of the Minor whose name should be declared in the account opening form itself.
        Free Net-banking with transaction limit of Rs. 2,500.00 per day.

[U][B]ATM Withdrawal limit[/B][/U]
    Rs. 5,000.00 per day (Option to fix the maximum withdrawal limit on ATM / Debit Cards within Rs. 1,000.00 to Rs. 5,000.00 by Account Holder or Guardian of the Account Holder.)
Debit & Credit Cap
    The debit cap of Rs. 1,00,000.00 per month and credit cap of Rs. 1,00,000.00 per month.
Daily shopping Limit Using Debit Card
    Rs. 2,500.00
Cheque Book Issue charges
    10 cheque leaves free per year. Thereafter Rs. 2.00 per leaf.
Cash Remittance Limit - Parent Branch / Satellite Branches
    Nil - Subject to Credit Cap.
Issue of Duplicate Statement
    Rs. 25.00 per Ledger Folio. Minimum Rs. 25.00 + postage if any.
Issue of duplicate pass book
    Rs. 25.00 per passbook with an additional charge of Rs. 5.00 per ledger folio (40 entries) thereof.
Nomination Facility
    Available.
Certificate / Attestation
    Free.
Outward Cheque Return
    Nil.
Standing Instruction Charges
    Nil.
DD Cancellation
    Free.
Duplicate Debit Card
    Replacement of a damaged card - No charges & Replacement of a lost card - Rs. 100.00 (plus taxes).
Regeneration of Pin Mailer
    Rs. 50.00
Email Statement Charges
    Free.
Additional Features
    TMB eConnect (Limit - Rs. 2,500.00).
    TMB M Banking (Limit - Rs. 2,500.00).
    Anywhere Banking Facility
    SMS Alerts
Other Features
    As applicable for Ordinary Savings Bank Account.

[U][B]Additional Documents to be obtained for account opening[/B][/U]
    1. Birth Certificate or Any other valid Date of Birth Proof of Minor.
    2. Latest passport size Photo.
    3. Proof of Address: If address proof / other KYC documents are available only in the name of the parents / guardian the same may be accepted (after verifying with original) and signature of the parent / guardian may be accepted as introduction (i.e., KYC of the Parent).
    4. The consent letter may be obtained from natural guardian / legally appointed guardian to open and operate the account solely by the minor (This Declaration shall be included in the account opening form itself).
[U][B]
Issue of Cheque Book - Legal Consequences & specific stipulations[/B][/U]
    1. Section 26 of Negotiable Instruments Act provides that A minor may draw, endorse, deliver and negotiate such instrument so as to bind all parties except himself. Accordingly a minor may not be personally liable to the bank in case of any overdrawing in the account and the bank cannot proceed against the minor. As a cautionary message the word "MINOR" shall be prefixed prior to Minor Name engraved in the Cheque Book in the place for signing Thus, it assists to anyone to know the drawer is minor.
    2. No overdraft facilities in this account.
    3. Minor account holders cannot introduce new account to the bank.
    4. No Cheque other than those issued by state and central government in favour of the minor under government schemes can be collected.

[U][B]Education Loan[/B][/U]
    The account holders will be given preference in granting educational loans, subject to satisfactory SB account operations for minimum for 3 years and fulfilment of the eligibility criteria.[/QUOTE]

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