Save money for your child’s future
"Kids" Deposit Account
Increase or decrease your fixed savings amount at any time. You can carry out extraordinary withdrawals of up to $500 per month.
Ability to apply for student loan
If you save for more than 6 years, your child can apply for a student loan that is equal to three times the savings amount. The loan will be charged with 0.50% lower interest rate.
This is a 12-month term account.
- Minimum initial deposit amount is $30
- Maximum monthly deposit amount is $500.
The minimun monthly deposit amount is $30
The account is automatically renewed on the renewal data and at the Scheme's interest rate on that date.
Withdrawal is available with the minor’s signature upon them reaching the age of 18. Withdrawal is also possible in special cases, prior to the minor reaching the age of 18, with a court order.
Yes, the Bank reserves the right to examine and deny any application for a student loan at its discretion.
Find the interest rate here
1. What is a savings account?
These are accounts that aim to help you find the most appropriate way for saving and the best way of doing that without burdening your finances, while also allowing you to enjoy the benefits of setting money aside.
2. How do I choose the savings account that suits me best?
We have suitable accounts depending on how you want to save money. You have the choice of saving:
- A regular amount every month (“Steady” account)
- Any excess money lying idle in your current account (“SurPlus” account)
- Via your credit card (the “Save a la card” account)
- For your Kids (Kids account)
3. How do I open a savings account?
The process of opening an account is short and simple Find out through our website and our branch network about your different options to choose the savings account that suits best your needs. The process for renewing the account is just as simple.
4. What is the process for renewing a savings account?
A few days before the end of the 12-month period, you will receive a letter reminding you of the expiry date of your account. You may consider the following options:
- Give instructions on the expiry of the account for the interest or the total amount deposited (including the interest) to be transferred to another account.
- For the "Kids" Saving account, you can transfer money (the interest, the total or part of the deposit amount) to another account in the bank, in the child's name, only if the new account enjoys higher interest rate.
- If you do not want any change to your savings account, it will be automatically renewed at the interest rate the Bank offers at that time, ensuring there is no loss of interest even if you forget to renew the account on the designated date.