Compare Union Bank of India Union Muskaan (SBMUS) and PNB GROW Saving Scheme using the controlling cost, balance, rate, tenure, liquidity, limits, eligibility and current first-party bank evidence for this product type.
Compare the two source-backed records without collapsing unlike conditions into a winner score.
Families comfortable with a modest QAB who prefer guardian-held debit-card control and education/investment-linked benefits.
PNB families wanting a zero-MAB minor account with explicit child card limits and a documented transition to independent operation above age 10.
bankingreference.info · Comparison research sheet
Prepared 14 Sep 2026 · Source page: https://bankingreference.info/compare-banking/union-muskaan-minor-savings-account-vs-pnb-grow-minor-savings-account/
General product research only. Recheck the listed first-party sources before acting because product terms can change after the recorded review dates.
Each checkpoint reproduces the recorded product fields instead of assigning a winner. Read the condition, scope and missing-data state before treating a difference as useful to you.
Source review: September 9, 2026
Maintenance: Within the scheduled review window
1 attached source. A review date is not a guarantee that terms have stayed unchanged.
Source review: September 9, 2026
Maintenance: Within the scheduled review window
2 attached sources. A review date is not a guarantee that terms have stayed unchanged.
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| Decision factor | Union Bank of India Union Muskaan (SBMUS) | PNB GROW Saving Scheme |
|---|---|---|
| Cost / charges | Minimum QAB ₹1,000; current FAQ states ₹50 + GST non-maintenance charge. The account's separate term-insurance benefit requires AQB not to fall below ₹5,000 during the relevant RD tenure. | Minimum Average Balance is zero. PNB's GROW leaflet states free issuance of the Master Grow Platinum Debit Card; annual maintenance is waived when yearly average balance of ₹5,000 is maintained, otherwise current AMC rules apply. |
| Balance / relationship | ₹1,000 minimum QAB for the core account. A separate ₹5,000 AQB condition applies only to the stated term-insurance-on-RD benefit, not as the base account balance requirement. | Zero Minimum Average Balance under the current PNB GROW leaflet; the guardian must hold a PNB Savings Account for guardian-operated opening. |
| Core benefits | Platinum debit card issued to parent/guardian, up to 20 personalized cheque leaves, 0.25% education-loan rate concession under current terms and linked savings/investment options. | Master Grow Platinum Debit Card, free 25 cheque leaves per year, nil SMS alert charges and unlimited-free online RTGS/NEFT under the reviewed leaflet, plus scheme rewards/offers subject to change. |
| Limits / allowances | Current Muskaan FAQ lists ₹5,000 daily ATM cash withdrawal and ₹25,000 daily POS limit on the linked guardian-issued Platinum card proposition. | Master Grow Platinum: ₹10,000 daily ATM withdrawal, ₹10,000 combined POS/e-commerce and ₹5,000 contactless daily limit under the current GROW leaflet. |
| Eligibility | A dedicated Union Bank savings product for minors under the bank's current Muskaan account-opening and guardian rules. | Minor of any age through natural/legal guardian; guardian must hold PNB Savings Account. Minors above 10 can open and operate independently on satisfactory proof of age under current terms. |
| Ongoing relationship rule | The bank explicitly states a Platinum card is issued to the parent/guardian; it does not identify a sufficiently exact network/card variant for a named relationship endpoint. | PNB explicitly names the Master Grow Platinum Debit Card and its child limits for the GROW scheme. |
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Reviewed September 9, 2026 · 1 attached first-party source
Reviewed September 9, 2026 · 2 attached first-party sources