Kamana Sewa Bikas Bank (KSBB) has introduced the Bal Bachat Khata, a dedicated savings account designed exclusively for children and minors under 18. The product aims to help parents secure their children’s financial future while nurturing early saving habits and financial discipline.
The account is opened in the name of the child, but remains operational only through the legal guardian until the minor reaches 18. This ensures protection of the funds and promotes responsible financial handling on behalf of the child.
With a minimum balance requirement of just NPR 100, the account is accessible to families from all income groups, promoting financial inclusion. The account offers an annual interest rate of 2.75%, calculated daily and paid quarterly, ensuring steady growth of the savings.
One of the standout features is the free standing instruction service, allowing parents to automatically transfer funds from their own KSBB account to their child’s Bal Bachat Khata. This automated deposit system encourages consistent saving without manual effort.
The account supports modern digital banking services (based on bank-specific terms and conditions), including:
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KS iMobile access
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Debit card facility
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Locker services
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Demat and MeroShare accounts, operated by the guardian
These features introduce minors to investment basics and modern banking tools from an early age.
Upon turning 18, the account enters a debit-restricted status. To continue using it, the now-adult customer must update documents, including their Citizenship Certificate and adult KYC. They can then choose to:
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Continue using the account
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Convert it into another account type
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Close the Bal Bachat Khata and open a new account
Required documents for opening include:
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Child’s Birth Registration Certificate
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Parent/guardian’s Citizenship and KYC form
With the Bal Bachat Khata, KSBB positions itself as a strong promoter of financial literacy, encouraging long-term saving and preparing Nepal’s younger generation for financially secure adulthood.
