The Gambia
Guinea
Sierra Leone
Vista Burkina
Mozambique
Who is it for?
Our Child Trust Fund Account is for parents and grandparents to help them save for their children’s future. It is specifically designed to assist them in cultivating a culture of planning and saving for their children from an early point in their lives, with the intention of giving them a good financial start by the time they reach 18 years of age or above. The fund is essentially a long-term savings and investment account which a parent can set up for their child, from which they cannot withdraw money until after 4 years and upon turning 18 years or above.
Types of Child Trust Fund Accounts
- Regular – with a monthly deposit of D250
- Super – with a monthly deposit of D500
- Family – with a monthly deposit of D1500
What you'll need:
- Passport photo of parent/guardian (plus children’s passports)
- Child’s birth certificate/clinic card
- Resident permit (where applicable)
- TIN certificate of parent/guardian
- Duly completed KYC form
- ID/Passport of parent/guardian
- Minimum deposit of D250, D500 or D1,500 (for the different account types)
Features and benefits:
- Parents of the child will be the trustee and manage the account
- Deposits will be made into the account for the child up to the age of 18 years
- Parents have option to withdraw from the account after 4 years (only withdrawal of interest is allowed, not the principal)