Children Account

Overview

Secure your child’s future.

This account is specifically for the parents or guardians who want to save for their children be it in school fees, medical treatment etc.

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  1. Account can be opened and operated in CDF & USD.
  2. Minimum opening balance USD 20 or its equivalent.
  3. A gift for the child when the account is opened with a minimum of 5,000 USD.
  4. Account operated by parent or guardian.
  5. Minimum of 3 months should be required before the first withdrawal.

  1. Allows customers to build savings for their children aged newborn to 18 years’ maximum.
  2. The child can access the account only when attains the age of 18, unless the Bank advises otherwise.
  3.  Account automatically converted into a traditional savings account at majority age with same account number.

  1.   Guardian/Parent Identity document (Passport, Election ID, and Driver’s License).
  2. Two colored passport size photographs of the child & parent/guardian

FAQs

Customer (Parent/Guardian) can request for the account to be transferred to the child as a CRDB Student account or any other account the customer chooses. From this point onwards, the child will oversee the account.

NO, the Children Account cannot be opened jointly.

YES, Children Account does offer interest, which is communicated by the treasury from time to time.

Customers can withdrawal through CRDB Branches; however, customers are limited to only four (4) withdrawals per year.

NO, the Children Account Account does not have operational fees(monthly fees, or withdrawal fees)

YES, customers can set up standing instruction (SI) from their CRDB personal accounts or from another bank to the Children account. However, the SI must be set up by the other Bank.

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