Why Opening a Bank Account for Your Child Is a Smart Step
Children who save early learn that money takes planning. A bank account turns that lesson into daily practice. Here is what a minor account offers.
The Allied Rising Star Account helps young savers build good money habits. Children can save for games, school items or a special treat. Each deposit shows them how small amounts add up.
Minors bank with a parent or guardian beside them. This support covers deposits, withdrawals and every other banking activity. Children learn the process while adults keep the account secure.
The account credits profit daily to a dedicated Wallet Account.
Please note: Profit rates are variable and subject to State Bank of Pakistan (SBP) guidelines. Please confirm the current rate at an Allied Bank branch.
What Is a Minor Bank Account?
A minor account is a savings account for a person under 18. Children under 18 can hold one in Pakistan with parental or guardian involvement.
Allied Bank offers this through the Allied Rising Star Account.
Allied Rising Star Account at a Glance
The table below sets out the essentials.
| Feature | Details |
|---|---|
| Account holder | Children and minors under 18 |
| Account type | Savings account |
| Guardian role | Assistance required for all banking activities |
| Single debit limit | PKR 100,000 per transaction |
| Profit | Credited daily to a dedicated Wallet Account |
| Access | Debit Card, Internet Banking and SMS alerts |
Who the Account Suits
The account suits children who receive pocket money, gifts or small earnings.
It also suits families who want an adult to guide every transaction.
Parents get a simple way to teach saving through real banking.
How the Main Account and Wallet Account Work
Each Allied Rising Star Account works as a pair. One account holds the savings, and the other collects the profit.
Main Account
What It Holds
The Main Account holds the amount your child deposits. Deposits and withdrawals happen with parental or guardian support.
Wallet Account
What It Receives
Daily profit goes to a dedicated Wallet Account. Your child can watch the profit build up day by day.
Spending Limit
A single debit transaction is capped at PKR 100,000. This cap applies to every debit transaction on the account.
How Your Child Can Access the Account
The account offers three ways to bank. Each one works with parental or guardian assistance.
Access Options
Debit Card
The account includes a Debit Card for your child.
Global Use
The card is usable globally with parental access.
Internet Banking
Parents can manage the account through Internet Banking. This gives you a clear view of deposits and balances.
SMS Alerts
SMS alerts keep you informed about account activity. You know about each transaction as it happens.
Additional Benefits for Young Savers
Allied Bank adds gifts and tools that make saving enjoyable. Each one is designed to keep children interested in their account.
Gifts and Keepsakes
Your child receives a Welcome Gift at account opening. A Birthday Gift follows every year.
A First Account Certificate is ready to display at home. The account holder also receives a personalised ID Card.
Saving and Banking Tools
A Cash Box encourages daily savings at home. Children can drop in spare change before it reaches the bank.
You receive two cheque books, one for each account. The Main Account and the Wallet Account each have their own.
Protection
The account includes free insurance cover of up to PKR 2,000,000 in case of mishap.
Please ask your branch for the terms.
Documents Required to Open the Account
Keep these documents ready before you visit a branch. The list is short.
Documents for the Child
Bring the child’s B-Form or Juvenile Card.
Documents for the Parent or Guardian
The parent or guardian brings one of these identity documents:
- Valid CNIC/SNIC/NICOP
- Proof of income of the parent or guardian is also needed.
Supporting Documents
Allied Bank may ask for other supporting documents as per existing ABL policy. Your branch can confirm the full list on the day.
Opening a Bank Account for Your Child Step by Step
Opening a bank account for your child takes five steps.
- Choose the Allied Rising Star Account for your child.
- Collect the child’s and guardian’s documents.
- Visit an Allied Bank branch with your child.
- Make the initial deposit of PKR 100.
- Collect the Welcome Gift and start saving together.
The Guardian's Role in Every Transaction
Parental or guardian assistance is required for all banking activities. Deposits and withdrawals happen with parental support. The Debit Card works with parental access.
This keeps banking safe and guided while your child learns. Over time, children see how each choice affects their savings. You stay close to every step.
Frequently Asked Questions
Q. Can Children Under 18 Open a Bank Account in Pakistan?
Yes. Minors can open a savings account through the Allied Rising Star Account with a parent or guardian involved. Banking stays safe and guided.
Q. What Is the Initial Deposit for the Allied Rising Star Account?
You can open the account with just PKR 100.
Q. What Is the Difference Between Allied Rising Star and Allied Youth Account?
Allied Rising Star is for children under 18. The Allied Youth Account is for young adults from age 18.
Q. Can My Child Use the Debit Card Alone?
Parental or guardian assistance is required for all banking activities. The Debit Card works globally with parental access.