Before moving ahead let’s get clear about what is minor and major bank accounts are and also what are differences between them.
Minor Bank Account: Basically Minor account is a type of account that is opened by a bank for a customer aged less than 18. Also, a minor bank account comes with some limitation that includes per day transaction limit to online banking limitation.
Major Bank Account: As per the official document submitted by the customer to the bank. If their age is above 18, then the account held by the customer categorize as a major bank account by the bank. Which comes with unlimited features offered by the respective bank.
Format Application for Minor to Major Account Transfer
Date: __/ __/ ____
The Bank Manager,
_______________ (Bank Name)
_______________ (Branch Name)
Subject: Application for Minor to Major Account Conversion.
Respected Sir/Ma’am, (Whichever Applicable)
With due respect, I would like to inform you that I am __________ (A/c Holder Name) and currently I am operating my ___________ (Saving/Recurring/Fixed) Account within your branch having A/c No.___________. The purpose of writing this application is to inform you that, I opened this account when I was under 18. And now I am ____ (Your Age), but still, my account is operating as a minor account. Therefore I request you to please convert this minor account to a major account.
Kindly grant me permission for the same. So that I can also utilize other important features of my account such as Debit Card, Credit Card, and Net Banking facilities.
______________ (A/c Holder Name)
A/c No.: ______________
Contact: +91- 90000 90000
Attached Document (If Required): 1. Aadhar Card, 2. Birth Certificate, 3. PAN Card
Sample Application for Minor to Major Bank Account
The Bank manager,
State Bank of India,
Koyla Nagar Branch,
Subject: Request Letter for Minor to Major Account Update.
With due respect, I would like to inform you that, I am Akshay Tandon and I am operating one of my Savings accounts within your branch having A/c No.: 1234500012345. Since I opened this account when I was under 18 and due to this, my account is still operating as a Minor Account and now I am 19. And still, I am unable to use other features and services of this account.
Therefore I request you to please update my bank account from a minor account to a major account as soon as possible.
A/c No.: 1234500012345.
Contact: +91-78000 78000
Attached Document(If Required): 1. Aadhar Card, 2. PAN Card.
Read Also: Application for Bank Account Transfer
Changing Minor to Major Bank Account Application
The Bank Manager,
City Branch Ranchi.
Subject: Application for Minor to Major Account Update.
I am Rahul Kumar and I am operating one of my Recurring Deposite accounts in your branch having Account Number 4598000012345. With due respect, I would like to inform you that I opened this account at an early age and now I become 19. Since this account was opened by me when I was under 18. Hence this account operates as a minor account. Which has lots of restrictions in terms of features and services.
Therefore I request you to please update my account from a minor account to a major account. Kindly initiate the process as soon as possible. So that I can fully utilize the feature and services of my bank account.
A/c No.: Rahul Kumar
A/c No.: 4598000012345
Attached Documents(If Required): 1. PAN Card, 2. Aadhar Card
Read Also: Bank Account Closing Application or Letter
Benefits of Minor Bank Account
Opening a bank account for kids comes under Minor Account. And there are 2 versions of it usually banks offer. The first one is a minor account for kids whose age is below 10 and their account is completely managed by their parents.
While the other version of a minor bank account is for those kids whose age is between 10 to 18 and these accounts can be either managed by parents or kids or by both of them jointly.
Opening a bank account for your children does not only mean that you deposit money in it. There are many benefits of opening a bank account for a child, and some of them are as follows.
They will learn to save and understand its value
Looking at the present condition, it would be absolutely true to say that today’s children do not know the importance of money. Opening a bank account for children and depositing money in it is the most unique and effective way to teach them how to save.
Limiting Expenses on Un-necessary things
Once your kid will know the importance of saving money, then they will spend better and differently than all the other kids of the same age group. Also, your kid will limit their expenses and avoid buying unnecessary expensive things.
They will Learn Compounding
Since depositing money in the bank means getting interest on it. So, the principal amount on the savings account will keep on increasing along with interest paid over time. Due to this children are motivated to save more and more money dedicated.
Through this article, you see the sample and format of the application and letter related to converting your minor bank account into a major bank account. Apart from this, you also learned about the benefits associated with the Minor Bank Account. Further, if you have any doubts, queries, or feedback related to this article then let us know by commenting down below.
Q: How do I convert a minor bank account to a major?
Ans: Converting a minor bank account to a major bank account is just a work of an hour. And for that, you need to visit your bank branch with an application for the manager by mentioning your subject. Other than that you also need to submit your KYC details and for KYC you can carry your Aadhar card, and your PAN card.
Q: What are the documents required for a change of account from minor to major?
Ans: Usually 3 to 4 documents are required for converting your minor bank account to a major bank account and these are as follows:
1. Aadhar Card.
2. PAN Card.
3. Your Contact/Mobile Number.
4. An Application to Bank Manager.
The Article written by the indoGeeks Team is well researched from different sources. Do let us know any typo or other kind of error by commenting down below. It will help us to make this internet a good and error-free source of information for the community.