Banif Bank has the ideal account for your children aged between 0 and 16 years, the New Generations Account.
The New Generations Account has been specifically designed around the needs of the younger generation. The account will help you, as parents/ legal guardians and grandparents to save for your kids or grandkids and will offer financial flexibility to cater for their future requirements. The product will provide an excellent return of 3.5% per annum and requires small regular contributions. Another interesting feature of the New Generations Account is that there is no limit on the amount that you can deposit.
After 6 months from the opening of the account, you will also be eligible for a personal loan* for the sole purpose of assisting the child. You can borrow the equivalent of double the balance held in the account at the time of the credit application, subject to a minimum loan value of €1,000 and a maximum loan value of €5,000. Such a loan will also attract a reduced interest rate.
This account is specifically aimed to help you save for your child’s future, but still retaining the flexibility to withdraw the full capital plus accumulated interest at pre-set intervals which are indicated at account opening.
In addition to this, FREE GIFTS** will be given upon the opening of a New Generations Account and at pre-set intervals to reward loyalty.
Key Features:
- Attractive interest rate
- Minimum initial deposit of €25
- Flexibility to save as much as you want, whenever you want subject that you save €300 annually
- No maximum deposit amount
- FREE gift vouchers *
- Eligibility for a personal loan at a reduced rate to finance child related requirements
- Full capital withdrawal plus accumulated interest at pre-set intervals
New Generations Account Brochure
New Generations Account Terms & Conditions
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