Children saving account is a special saving product designed for parents wishing to open their children’s (Minor) accounts who are aged below 18 Years. This product is designed to encourage saving habits among parents for the future assistance of their children providing them with the benefits of banking services View More
|S.N.||Bank Name||Product||Interest Rate|
|1||NIC Asia||Sarbashrestha Babu Nani Bachat Khata||6.585%|
|2||Machhapuchhre Bank Limited||MBL Balbalika Bachat Khata||5.603%|
|3||Nepal SBI Bank||KARNADHAAR BACHAT KHATA||5.603%|
|4||Nepal SBI Bank||NSBL BAAL BACHAT KHATA||5.603%|
|5||Lumbini Bikas Bank||Bal Surakshya Bachat||5.6%|
A children's savings account is a specially designed bank account intended for minors, typically those under the age of 18. It serves as a platform for parents or guardians to save money for their child's future needs or to teach the child about financial responsibility.
Yes, parents or legal guardians are typically the ones who open and manage children's savings accounts on behalf of the minor. They have control over the account until the child reaches a specified age, at which point the child may gain control or ownership.
The level of independence a child has with their savings account depends on the bank's policies. In many cases, parental or guardian supervision is required until the child reaches a certain age, at which point they may gain more control over the account.