Child Education Plan India - Features

The Child Education Plan can only be opened singly in the name of minor U/G natural/court appointed guardian.

It will comprise of two phases, with the total tenure varying from 4 years to 10 years.

Investment Phase

This is the first phase. This helps you save a small amount each month and then watch it grow into a big amount.

Minimum tenure of this phase

3 years, and thereafter in multiples of 3 months.

Minimum deposit amount

Rs. 500, and thereafter in multiples of 100.

Funding of the deposit in Investment Phase

Fund the Child Education Plan conveniently through a standing instruction on the parent's ICICI Bank Savings Account. No more hassles of writing a cheque or depositing cash!
Alternatively, it can be done through either depositing cheque or cash.

Benefit Phase

This is the second phase. It ensures that your child gets the money which will help him or her fulfil his / her dreams.
Earn interest on the money accumulated in the Investment Phase and receive regular equated payouts directly into the child's Youngstar Savings Account for convenient use of the funds.


Payouts can be received in any of the following intervals:

  • Quarterly
  •  Annual

Minimum tenure of this phase

12 months, and thereafter in multiples of 1 month.

Interest Rate

Child Education Plan will earn the prevailing fixed deposit interest rates for the entire deposit period, i.e. same rate of interest in Investment Phase and Benefit Phase. The rate of interest applied will be as per the tenure of Child Education Plan, including both Investment and Benefit Phases.
Even if the rate of interest changes, the Child Education Plan will continue to earn the contracted rate of interest in both the phases.

Other Features

  • Non-applicability of Tax Deduction at Source (TDS) during the Investment Phase
  • Loan on deposits
  • Partial withdrawal allowed
  • Pre-mature closure allowed


  • Nomination facility available for bank deposits.
  • There can be only one Nominee for a deposit account whether held singly or jointly
  • A person legally empowered to operate a minor's account can file a nomination on behalf of the minor
  • Applicants can make nomination by filling up the Form prescribed under the Banking Companies (Nomination) Rules 1985
  • The nomination details can be changed during the subsistence of the account relationship by filling up the Form prescribed under the Banking Companies (Nomination) Rules 1985
  • For more details approach your bank