Junior Savings Account

Introducing Our Junior Savings Account: Empowering Tomorrow's Financial Leaders

At MCB, we believe in fostering a culture of financial responsibility from an early age. That's why we're excited to introduce our Junior Savings Account, designed specifically to empower young individuals on their journey towards financial independence and success.

Our Junior Savings Account is designed to provide parents and minors (age 17 and under) the facility to save money without any monetary limitations or having to pay monthly fees.

The Junior Savings Account is a comprehensive tool crafted to educate and inspire the next generation of savers and investors.

Basic package information

Unlimited Withdrawals and flexible deposits with supervision of the parents/ legal representative. Customers can make deposits as often as they see fit, catering to more dynamic saving strategies.
The current interest rate for the Youth savings account is 0.75%

Required documents

Only minors (age 17 and under) are eligible to open a Junior Savings account;
Only parents and/or legal guardians that have an MCB account can open a Junior Savings account in the name of the minor and can open an account per child;
Copy of valid identification of the minor (if minor is over the age of 12);
Copy of valid identification of the parent(s) and/or legal guardian appointed by the judge; showing nationality (Passport, driver’s license or ID card);
Completed and signed parental/ legal guardian authorization form;
Address verification document (example a utility bill not older than 3 months);
Copy of Family book/ birth certificate;
Proof of income (salary slip, employment reference, employment contract).

Privacy and security

The Bank complies strictly with local legislation in all the jurisdictions in which the bank operates
The clients information is always treated with the utmost integrity and care for privacy

You can find more detailed information on our General Conditions and Privacy Policy here:

https://d1zwpj0nw967gp.cloudfront.net/documents/5120__lito_voorwaarden_nov_2020_v0.4_final__1620649360.pdf?v=1680721109