Who is it for?
For parents – looking to start with a small investment, then build towards meeting the educational expenses of their children. Our Minor Savings Account also provides the opportunity to win an Annual Scholarship Award. One lucky winner will be selected, annually, for a full scholarship covering the cost of tuition, books, etc. up to high school completion.
Note: All account balances above D5,000 at year end are eligible for the draw.
Eligibility and ownership:
The account can be established and managed by any person on behalf of a child between 8 days to 18 years old.
What you'll need:
- ID/passport of the trustee
- Passport photo of parent/guardian
- Duly completed KYC form
- Proof of address form
- TIN certificate of parent/guardian
- Residential permit (where applicable)
- Birth certificate of the minor/clinic card
Features and benefits:
- Competitive interest rates
- Interest paid twice a year into account (June and December)
- Free passbook
- No withdrawal restrictions
- Initial deposit of D250