CyrillicChildren's Savings Account
It is never too early to start with a good habit.One of the steps in forming good habits is saving from a young age: in addition to allowing for safe keeping of funds for future needs as they grow up, it helps children develop a responsible attitude towards money.
Children's savings account is a product intended for children up to 18 years of age. It may be opened by a legal representative (parent/adoptive parent), foster parent or a legal guardian. The account is opened in the child's name.
FIXED TERM SAVINGS DEPOSIT WITH INTEREST PAYMENT UPON MATURITY – CHILDREN'S SAVINGS ACCOUNT
The bank accepts deposits to children's fixed term savings accounts in RSD currency for a period of:
In EUR currency for the period of:
When contracting a children's savings account, the minimum payment amount is RSD 1,000.00 or EUR 10.00. A single payment can be made to a children's term savings account.
The fixed term savings period begins on the day of deposit of funds and expires on the last day of the contracted term, and the right to dispose of the term savings deposit together with the applicable interest begins on the first day following the expiration of the fixed term savings period. Interest is calculated at a fixed interest rate using the conform calculation method.
The funds from a savings account opened in the name of a minor child may be disposed of by legal representatives, adoptive parents, foster parents or legal guardians only with the prior written consent of the competent social work centre.
Representative example in RSD
| DEPOSIT AMOUNT | RSD 100,000 | RSD 100,000 | RSD 100,000 |
| Deposit term | 12 months | 25 months | 36 months |
| Indexing criteria | No indexing criteria | ||
| Nominal annual interest rate (fixed rate) |
1.85% | 2.10% | 2.50% |
| Effective interest rate (annually) |
1.85% | 2.10% | 2.50% |
| Total amount of interest (gross) | RSD 1.850,33 | RSD 4.423,75 | RSD 7.689,74 |
| Costs borne by the client and included in the calculation of the EIR | - | ||
| Tax (0%) | - | ||
| Total amount payable (deposit + interest) |
RSD 101,850.33 | RSD 104,423.75 | RSD 107,689.74 |
EIR was calculated on 01 July 2021
Representative example in EUR
| DEPOSIT AMOUNT | EUR 10,000 | EUR 10,000 |
| Deposit term | 12 months | 36 months |
| Indexing criteria | No indexing criteria | |
| Nominal annual interest rate (fixed rate) |
0.50% | 0.80% |
| Effective interest rate (annually) |
0.43% | 0.68% |
| Total amount of interest (gross) | EUR 50.00 | EUR 241.93 |
| Costs borne by the client and included in the calculation of the EIR | - | |
| Tax (15%) | EUR 7.50 | EUR 36.29 |
| Total amount payable | EUR 10.042,50 | EUR 10.205,64 |
EIR was calculated on 01 July 2021
Useful documents
