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A minor is a person who has not attained the age of 18 years. According to Section 11 of the Indian Contract Act of 1872, a minor is not competent to contract and therefore any contract entered into with a minor is void abinitio (= from the begining) and therefore, are unenforcble.
However, banks encourage minors to open savings bank account, without their guardians, as long as that account runs in credit. Thus it helps S inculcate the habit of savings in the minor. The banker must see that he gives no
M.J. SUBRAMANYAM, BANGALORE
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∙ 11y ago
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Can a minor open a fixed deposit?
Yes. There are no restrictions as to who can open a Term Deposit account. Let's say your grandpa gave you $1000 and you want to deposit $1000/- towards your college funds, you can visit your nearby bank branch and open a TD as a joint account between you and your father/mother. Since you are a minor, the bank would require a signature of your parents or atleast one adult member of your family before opening your fixed deposit account.
Can a minor child open a checking account without a co signer in the state of Ohio?
Yes they can
Can a minor open a checking account in the state of Maryland?
Yes, a minor can open a checking account in the state of Maryland but they might need a parent or guardian to be a joint account holder and provide consent. The specific requirements and age limits may vary between different banks and financial institutions. It's best to directly contact the bank you are interested in opening the account with to get accurate information.
How old does one to have to be to open up a savings account at the Bank of Scotland Halifax?
While most standard savings accounts offered through the Bank of Scotland Halifax are intended to be owned by adults (or managed by a minor's guardian), there is an option for younger folk wanting to open an account. The Under 19s savings account program specifies that the minimum age is 11. A parent or guardian must accompany any minor when setting up a bank account.
What age do you have to be to open a bank account?
You need to be atleast 18 years old in order to open a bank account that you can operate individually. If you are less than 18 years old, you will be termed a minor and the bank will expect your legal guardian or parents to be a co-holder of the bank account.
What year do you have to be born in to get a checking account?
Most banks have a minimum age of 18 to open a checking account with a parent or guardian. If you open a joint checking account with a parent or guardian, the minimum age is usually 13.
How do you give your guardian verification to aqworlds so you can open the shop in the guardian tower?
On the homepage, aq.com there will be a list of links on the left side of the screen (in categories) find Account and click verify guardian then put in your AQWorlds account and your Guardian account
How old do you have to be to make a savings account?
To open one without a co-owner you would need to be the age of majority in your jurisdiction, which is usually 18. Most banks offer minor savings accounts and/or teen accounts, which can be opened at nearly any age as long as an adult "guardian" is also a signer on the account.
Can a minor open a checking account in the state of Alabama?
Yes, definitely. But, the minor would need his parents or legal guardian to be a joint applicant and holder of the account. Banks will have no problems giving you an account as long as an adult is a co-holder of the account.
Who cannot open a current account?
A minor
How old are you to have a bank account?
You need to be atleast 18 years old in order to open a bank account that you can operate individually. If you are less than 18 years old, you will be termed a minor and the bank will expect your legal guardian or parents to be a co-holder of the bank account.
Can you open a checking account at the age of 14?
All banks have facilities where kids can open bank accounts. However, they will require an adult to be a joint holder or guardian for the account until the kid turns 18. The kid can visit the bank branch themselves to deposit any cash they want (you can even deposit $5 or $10 into a kids savings account). Actually banks these days are encouraging kids to have their own bank account in order to educate them about money and how to save for a better future.
