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Features & Benefits
10.25% (Compounded Quarterly)
Minimum Initial Installment of Rs.500/-
Term of Deposit
10 Years /
12 Years/15 Years
Target Audience Children between the ages of 0 to 16
Scheme Details
- The UDAAN Recurring Deposit Scheme is specially designed for children to encourage disciplined savings habits and financial responsibility from an early age.
- The scheme helps parents start a long-term financial journey for their children by promoting awareness about savings, future planning, and financial discipline.
- UDAAN offers long-term investment options with deposit tenures of 10 years, 12 years, and 15 years, helping build a strong financial foundation for a child’s future goals and education.
- The scheme aims to promote:
- Regular savings habits among children
- Financial literacy at a young age
- Understanding of money management and long-term savings
- The scheme is available for children between the ages of 0 to 16 years.
- The applicable interest rate is 10.25%, calculated on a compounded quarterly basis.
- The scheme becomes effective from 8th June 2026.
- Investors can begin with a minimum monthly installment of ₹500, while the maximum installment amount allowed is ₹5000.
- The account must be opened in the name of the minor, and only the natural guardian (mother/father) is permitted to operate the account.
- Required documents include:
- Birth Certificate of the minor
- Photograph
- KYC documents of both minor and guardian
- Premature closure is permitted under applicable conditions with a 2.5% penalty deduction on the applicable interest rate.
- The scheme encourages families to build a culture of responsible financial planning and long-term wealth creation for children.
