On Thursday,(16th June), Equitas Small Finance Bank announced the lunch of an exclusive saving account for kids (0-18years), ENJOI with effect from 19th June on the occasion of Father’s Day.
Its main objective is to introduce “Young Kids” to the financial world and encourage them to develop an early habit of saving .This saving account will also help the kids to take their first step toward a new age and technology-oriented Banking experience.
- ENJOI will allow kids of 0-18 years to open saving accounts under the guidance of their parents.
- It will also allow minors aged 10 and above kids to get the option for a personalized debit cards.
- The account offers 7% interest for saving balance between 5lakhs to 2 crore to promote higher growth in saving.
- The account will offer flexibility to choose the mode of saving either as a Saving Account with balance starting as low as 1,000, Recuring Deposite for Rs.500 monthly ,or Fixed deposite for Rs 10,000 .
- The personalised debit card will be complimentary for 1st year and can be enjoyed free for a lifetime by maintaing the required balances.