Children are an important part of our lives and here at Y-Save, we understand that securing your child's future is important to you. Y-Save designed a children's account to help your children save for the future while inculcating in them the culture of saving.
The child or parent can save any amount of money on their children’s Account. The account earns an interest of 12% PA compounding itself and the child can access the money on this account only when they are over 18 years.
The following should be noted when opening the account;
- The Parent/guardian will be required to complete and sign a children's account opening form.
- A passport size photo for the child will be required while completing the form.
- The account will be in the child's name with the parent(s) or guardian as trustee(s).
- Only children below 18 years are eligible to have the Y-Save children’s Account.
The Benefits Include:
- The Children’s Account helps inculcate a saving culture within the children
- It enables a Parent directly save for their children’s future
- Savings grow with an interest of 12% PA.
- There are no monthly account maintenance charges on the Children’s Account.
- There are Unrestricted free deposits.
- There are Free statements.
- The member can open an account for each of your children.
“I have been saving with Y-save for over 10 years now and am happy for what i have achieved.” — Dr.Okello