Children scheduled savings

 

Children's scheduled savings account is a special type of a savings account where amounts are deposited monthly into a child's savings account at a stimulating rate of interest. If monthly deposits exceed the agreed amount, the savings can be transferred to a higher tier and earn even higher interest! Children's scheduled savings account is opened by a legal representative (parent) or a custodian on behalf of the child who is the owner of the savings account. It is intended for children under 18.

Set up a children's scheduled savings account and provide for your child's future now!

Major advantages

  • You can choose monthly amounts you wish to deposit, provided such amounts are not lower than EUR 15
  • Fixed interest rate
  • You can even make a number of deposits within one month, in which case all the payments added up should not be lower than the contracted amount
  • The manner and date of monthly payments: by a standing order, by cash deposits, by a transfer from a transaction account or combining the before-mentioned methods.
  • It is up to you to choose the date when the standing order is executed.
  • The rate of interest depends on the sum of the agreed monthly deposits (target amount) that will be paid in over the deposit period, as well as on its duration.
  • You may tie your funds for: 3, 6, 12, 24, 36, 48 and 60-month periods,
  • Automatic rollover: if by the expiry date you give no indication of wishing to terminate your children's scheduled savings, it will be automatically rolled over under the same conditions (the same amount of monthly deposits, term and date of payment).

 

Upon transfer to a higher tier, the interest rate set by the currently valid Decision on Interest shall apply to the entire savings amount. Exceptionally, if that rate of interest is lower than the rate of interest earned before the transfer to the higher tier, the Bank shall continue paying the previously paid rate of interest.

Children's scheduled savings account is opened by a legal representative (parent) or a custodian on behalf of the child who is the owner of the savings account. It is intended for children under 18.

 

Information on children’s scheduled savings

The Bank provides an insight into the account balance and the account data via:

  • Contact Centre of OTP banka at (072) 201 555
  • personal computer: Internet banking menu on the Bank’s web site. To avail themselves of this option, customers are required to fill in an application form and take a token
  • Bank’s branches