Is a saving account designed specifically for children younger than 18 years to encourage early saving culture for their future and introduce them to financial planning. This account allows parents/ guardians to invest for the benefit of their children’s future by earning a return on investment. Besides financial security this Account enables children and parents / guardians to meet financial obligations during the time of need such as school fees, medical expenses and more. This account is usually managed by parents or guardians.
• Opening balance Tshs. 10,000/=
• Minimum operating balance of Tshs. 10,000/=
• Withdrawals are made after three months, four times a year
• No monthly charges
• Interest rate will be offered from a balance of Tshs. 51,000/=
• A small amount fee will be charged on closure of the Account.
• Easy to open and operate.
• Attractive interest rate.
• Free annual bank statement.
• No hidden charges.
• Encourage early culture of saving to the young.
• Two passport size photographs of a child
• Two passport size photographs of parent or guardian
• Copy of Child’s birth certificate or affidavit or clinic card
• Copy of valid driver’s license or voter’s card or national identity or passport or utility bill for a prospective customer.
• Introduction letter of the parent/guardian from the local government.