money sectionmoney sectionEvery state has its own banking laws, and in some states children can open bank accounts without the involvement of an adult. However, even in these states, not all banks allow children to open accounts. In most states, banks can only open accounts for minors if an adult manages the account on behalf of the child.
Many parents choose to start a savings account for their children as a way of helping them learn how to manage money throughout their early years and become personally involved in and responsible for their own finances. ICICI bank offers Young Stars accounts to allow parents to open a Kid's Savings Account with a fixed or recurring deposit. ICICI bank is India's largest private bank with headquarters in Mumbai, India. It also has branches and representatives in 18 countries, including the United States, that seek out Indians living in those countries.
