Kerala bank introduced a vidya nidhi deposit scheme for school children. The eligible students are 12 to 16 age (7 th to plus two)groups. They will get Rs 2 lakhs insurance coverage. You should open a free savings account from Kerala bank. They can open a savings bank account in Kerala bank. Chief minister Pinarayi Vijaya inaugurated this scheme.
The main aim of this scheme is to encourage saving habits of children and they can use their finances for educational requirements. It gives special benefits to the children. The vidyanidhi account holders have priority for educational loans.This scheme encourages the students to save for future,This scheme was launched on 29 th November 2021.
Benefits of vidyanidhi deposit scheme
- Account holders will get priority for educational loans.
- They will get SMS alerts,ATM, mobile banking facilities.
- They are waived on DD charge(up to Rs 30,000 a year and Rs 5000 a month).
- They will get free RTGS,IMPS,NEFT facility.
- The students will get scholarships offered by state and Central governments.
- They can continue or close their vidhyanidhi accounts after class X.
- One parent of the child can open a special privilege account that ensures insurance coverage up to Rs 2 lakhs.
- First premium remitted by the bank.
- We can register online for this scheme.
- The student should be a permanent citizen of Kerala state.
- Adhar card
- School Identity card
- Age proof certificate
- Residential certificate
- Mobile number
How to open vidhyanidhi account
- Visit the official website.
- Fill the application form
- Upload the required documents.
- The government of kerala has not announced an official portal to apply.. After the announcement, you can apply for this scheme.