Archive · 19 Aug 2026
Child Savings: Punjab National Bank, YES Bank And Post Office
Parents have several ways to save money for a child’s future.
Punjab National Bank’s Balika Shiksha program is only for certain eligible girls, so it is not a normal FD for everyone.
It puts ₹3,000 in the girl’s name, but the money can generally be received at age 18 only after meeting conditions.
YES Bank offers regular fixed deposits for minors through a parent or guardian.
These deposits can last from seven days to 10 years and can pay up to 8% interest.
Sukanya Samriddhi Yojana is another option for girls younger than 10.
Parents can also consider PPF, NSC, recurring deposits and time deposits.
Each product has different rules for deposits, withdrawals, duration, interest and tax benefits.
Punjab National Bank’s Balika Shiksha program is limited to eligible girl students, not general FD customers.
The Balika Shiksha program deposits ₹3,000 for eligible girls, payable at age 18 subject to conditions.
YES Bank offers minor FDs from seven days to 10 years, with rates up to 8%.
Sukanya Samriddhi Yojana accepts ₹250 to ₹1.5 lakh annually for girls under age 10 at 8.2% interest.
PPF, NSC, Post Office RD and Post Office TD provide additional child-saving choices with different terms and tax features.
- Who
- Parents or guardians saving for children, eligible girl students, and minor account holders.
- What
- A comparison of Punjab National Bank, YES Bank and Post Office child-saving products.
- When
- The options and rates are presented for 2026.
- Where
- Through Punjab National Bank, YES Bank and Post Office savings channels.
- Why
- To help parents compare fixed deposits and government-supported savings products for education and other future needs.
- Balika Shiksha eligibility
- Generally, girls must have passed Class VIII from a Kasturba Gandhi Balika Vidyalaya; certain SC/ST girls must be in Class IX at a government, government-aided or local-body school.
- Balika Shiksha deposit
- The government deposits ₹3,000 in the eligible girl’s name.
- YES Bank minor FD
- Tenures range from seven days to 10 years, with listed public interest rates from 3.25% to 8% for deposits below ₹2 crore.
- Sukanya Samriddhi Yojana
- For girls under 10, with annual deposits of ₹250 to ₹1.5 lakh and an interest rate of 8.2%.
- Public Provident Fund
- A 15-year account for a minor through a parent or guardian, with a listed interest rate of 7.1% and partial withdrawal after seven years.
- National Savings Certificate
- A five-year fixed-income product with a listed interest rate of 7.7% and Section 80C eligibility.
- Post Office products
- Recurring Deposits offer five-year terms at 6.7%; Time Deposits offer one- to five-year terms at 6.9% to 7.5%.