Children’s Savings Account
Characteristics
Interest
IconThe interest shall be payable once a year on December 31 or upon account closing.
Deposit holder
IconThe deposit holder is an underage/minor person aged up to 18 years.
Depositor
IconDepositor is an adult person opening the deposit without requirement for any kinship.
Account transactions
IconDisposal of finds from the account can be made by the legal representatives with authorization by the district court.
Age of majority
IconWhen the account holder comes of age, the bank shall transform the children’s savings account into a standard savings account in accordance with the then acting terms and conditions applicable to the product in accordance with the Interest Rate Bulletin and the Tariff for individuals.
Terms and Documents
Required Documents
- Birth certificate of the child
- Depositor’s identity document
- Request for opening of children’s savings account
- Standard children’s savings account contract
