Ask KS-MitraAlphaGrow Saving Account is a saving account of Kamana Sewa Bikas Bank for children below 18 years of age. It is designed to help children build the habit of saving early, whether the money comes from their first allowance or from birthday gifts from friends and family. The account can be opened with a minimum balance of NPR 5,000.
AlphaGrow account holders get a free AlphaGrow profile on KS iMobile, which allows SMS alerts and balance enquiry. This lets children follow their savings safely, without full transaction access.
Features
| Features | Details |
|---|---|
| Minimum Balance | NPR 5,000 /- |
| Interest Rate | As per published interest rate of Bank |
| Interest Calculation | Interest calculated on a daily basis and payable on a quarterly basis |
| KS iMobile (AlphaGrow Profile) | Free (allows SMS and Enquiry only) |
| KS iMobile (Other Profiles) | As per STC |
| Debit Card/Demat/Meroshare | As per STC |
Who Can Open This Account?
Children and minors below 18 years of age can open an AlphaGrow Saving Account.
AlphaGrow Saving Account vs Bal Bachat Khata
Kamana Sewa Bikas Bank offers two saving accounts for children. Here is how they compare.
| AlphaGrow Saving Account | Bal Bachat Khata | |
|---|---|---|
| Eligibility | Children below 18 years | Children below 18 years |
| Minimum Balance | NPR 5,000 /- | NPR 100 /- |
| KS iMobile | Free AlphaGrow profile (SMS and Enquiry) | As per STC |
| Standing Instruction | As per STC | Free from parent's account to child's account |
Documents Required
- Birth Registration Certificate of the minor (Citizenship is also acceptable if the minor has already taken citizenship).
- Duly filled KYC, citizenship and NID of a parent/legal guardian.
Frequently Asked Questions
Who can open an AlphaGrow Saving Account?
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Children and minors below 18 years of age can open this account.
What is the minimum balance for AlphaGrow Saving Account?
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The minimum balance required is NPR 5,000.
Can my child use mobile banking with this account?
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Yes. AlphaGrow account holders get a free AlphaGrow profile on KS iMobile, which allows SMS alerts and balance enquiry only. Other KS iMobile profiles are charged as per STC.
What is the difference between AlphaGrow and Bal Bachat Khata?
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Both accounts are for children below 18 years. AlphaGrow requires a minimum balance of NPR 5,000 and includes a free AlphaGrow KS iMobile profile. Bal Bachat Khata requires only NPR 100 and offers free standing instruction from a parent's account.
