Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Service typePFRDA-regulated saving-cum-pension scheme for minors
Source 1Eligibility and operationAll minor citizens below age 18; account opened in the minor's name, operated by a guardian and held solely for the minor beneficiary
Source 2Contribution limitsMinimum ₹1,000 at opening and ₹1,000 per year thereafter; no published maximum
Source 3Investment choicesDefault LC-50; auto choices LC-75, LC-50 or LC-25; active allocation up to 75% equity, 100% corporate debt, 100% government securities and 5% alternate assets
Source 4Partial withdrawalUp to 25% of contributions after three years for education, specified illness or disability, no more than three times
Source 5Transition or exit at age 18Seamless shift to NPS Tier I, or exit: above ₹2.5 lakh corpus, 80% to annuity and 20% lump sum; ₹2.5 lakh or less, full lump sum
Source 6Opening channelNearest SBI branch
Source 7Benefits and features
- Guardian-selected PFRDA-registered pension fund
- Default, lifecycle and active investment choices
- No published maximum contribution
- Limited purpose-based withdrawal after three years
- Seamless transition to adult NPS Tier I at age 18
Eligibility
- The account belongs to the minor sole beneficiary and is operated by a guardian until transition.
- Returns are market-linked and not guaranteed by SBI.
- Withdrawal and exit rules are regulatory and may change; confirm current PFRDA terms at the branch.
- An NRI guardian must provide an NRE or NRO bank account of the minor, singly or jointly held, as stated on SBI's page.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Guardian proof of identity and address: Aadhaar, driving licence, passport, voter ID, NREGA job card or National Population Register document as applicable
- Minor date-of-birth proof: birth certificate, school-leaving certificate, matriculation certificate, PAN or passport as applicable
- Minor's sole or joint NRE/NRO bank-account details where the guardian is NRI