Junior Savings Account

Junior Savings Account

This is an account a member can open to lay a foundation for their children, who are under 18 years as far as savings are concerned. Opening an account would require filling in forms as attached and providing your child's birth certificate.
You can open as many accounts as possible under the Junior savings scheme.
No joining fee is required as long as you are already a member.
Monthly contribution towards the account is 1,000/-
Interest earned is 4% p.a and is payable every 6 months
The savings account are withdraw able at any point.
Once a child grows into an adult, you can always encourage them to join in as members by transferring whatever had been saved in their junior account. Terms and conditions for membership application shall then apply

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