How To Change Minor Account To Major In Canara Bank

Minor Account In Canara Bank

The minor should be below a certain age (usually 18 years) to open a minor account. A natural guardian (parent or legal guardian) will be required to operate the account on behalf of the minor until they reach the age of majority.

The guardian will need to provide their KYC (Know Your Customer) documents, such as Aadhar card, PAN card, etc., along with the minor’s birth certificate for opening the account. Canara Bank might offer different types of minor accounts, such as savings accounts or fixed deposit accounts for minors.

There may be restrictions on withdrawal limits or transaction permissions to ensure that the guardian has control over the account. Once the minor reaches the age of majority, the account is usually converted into a regular savings account, and the minor gains full control over it.

Major In Canara Bank

Probationary Officer (PO) are entry-level officers who are selected through a competitive exam and undergo training before taking on various roles within the bank, such as branch management, loan processing, customer service, etc.

Clerks handle day-to-day banking activities, including account opening, cash handling, and customer inquiries. SOs are experts in specific areas such as IT, HR, marketing, law, and finance. They are recruited for specialized roles within the bank.

Branch Managers are responsible for the overall functioning of a bank branch, including meeting targets, managing staff, and providing excellent customer service. Relationship Manager: Relationship Managers work with high-value customers and handle their banking and financial needs, offering personalized services and products.

Credit Analysts assess loan applications, evaluate creditworthiness, and recommend loan approvals based on the bank’s guidelines.

How To Change Minor Account To Major In Canara Bank

Identity Verification

The individual must provide valid identification documents such as a government-issued ID card Aadhar card, passport, driver’s license to prove their identity.

Address Verification

Proof of address documents, such as utility bills, bank statements, or rental agreements, may be required to verify the current address.

Age Proof

To establish the account holder’s age, a birth certificate or any other valid age proof document should be submitted.

Request Letter

The account holder may need to write a formal letter to the bank requesting the conversion of the minor account to a major account.

Visit the Bank

After gathering all the required documents and writing the request letter, the account holder should visit the nearest Canara Bank branch in person.

Account Update

At the bank branch, the account holder needs to meet with a bank officer, submit the documents, and complete any additional paperwork as required by the bank.

KYC Process

The bank may conduct a Know Your Customer (KYC) verification process before updating the account status.

New Account Number

In some cases, the bank may issue a new account number once the conversion is complete. Ensure you update this new account number for all future transactions.