The product which has been designed with a view to attract parents who wish to save money future in the name of their children for education and other benefits Azizi Bank introduces the first of its kind savings account for the kids with the following benefits and privileges.
FEATURES OF A/c:
- Any individual (Afghan or Foreigner) The applicant needs to be in the age group of 0-18 years of age
- Free account opening
- Account can be opened in AFN and USD
- No charges on Account Maintenance Fee
- Free Customer ID card
- Free monthly statement
- Free Internet Banking Facilities
- Duplicate statement AFN 150 & 3 USD up to 10 pages each or part thereof
- Balance Confirmation Certificate available at all the branches
- Interest Certificate available at all the branches
- Free Monthly sweep in from Parent’s account for a fixed amount of AFN 500/USD 50 or in multiples of AFN 500/USD 50 for minimum 1 year
- Daily ATM withdrawal limit: AFN 2,500
- Daily shopping limit: AFN 5,000
- Minimum balance requirement is AFN 500/ USD 50
- Free SMS Alerts on any one registered local mobile number with the account
- 10 Free transactions allowed in a month. AFN 50/USD1 to be charged in case of withdrawal transaction after 10 transactions
- Kids Savings account can be opened for your child as long as your child is a minor
- Account to be operated by the legal guardian till the minor attains the age of 18 years
- Non-maintenance of minimum balance penalty: AFN 100/USD 2
- The account will be converted into a normal account once the child becomes a major
- Interest on the account will be paid monthly
- Interest Payable on Balance or above in Kids Savings Account AFN 500/USD 50
- Interest Rate: 0.5% over and above the Savings General interest rate for AFN and USD. Interest rate to be calculated on per annum basis and applied monthly subjected to Withholding Tax as per applicable law. (Present Rate for kids Account is 1.25% p.a. in AFN and 1.0% p.a. in USD)
- A/C Closing Charges (within 3 months) Except in case of death): USD 10 or AFN 500. No Charges if closed after 3 months.
