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Save for your kid
and secure your child's financial future
Special savings account for nurturing a savings culture among children right from the tender age of a toddler up to 17 years and for promoting the accumulation of savings by parents or guardians for meeting the future financial needs of the child. The account is operated on behalf of the child by the parent or guardian who is mature in making formal financial decisions.
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Features
- Mature adults whose age is 18 years and above operate the bank account on behalf of the child.
- Minor should be a toddler up to 17 years.
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Benefits
- Accrual of interest daily
- Account Opening cash UShs. 5,000.
- Minimum interest earning balance of UShs. 20, 000.
- Attractive tiered interest.
- Free Cash withdrawal.
- Access to education loans of up to 150% of the credit balance in the account
- No maintenance charges.
- Convertible to ordinary account when the kid attains the age of 18 years.
- Life insurance policy cover for parent/guardian
- On free cash per quarter.
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Requirements
- One (1) passport-size photo of the child.
- One (1) passport-size photo for parent or guardian.
- A Copy of a valid national identity card or National passport for the parent/guardian
- Parent/Guardian’s proof of residence i.e. utility bill, LC1 chairperson’s reference letter.
- Referral by a BRAC Uganda Bank customer
- A minimum opening cash deposit of UShs. 5,000·
- Proof of date of birth for minor i.e. copy of Birth certificate, Medical
- immunisation card or Baptism card.