The PostBank SmartSave Minors Account is designed for children under the age of 16 years. In a country like South Africa, with low levels of saving, PostBank is a financial institution striving to make a difference.
This account is ideal for saving money which you can access in the near future.
Why choose the PostBank SmartSave Minors Account?
Established in 1984, Postbank offers secure, reliable, accessible and affordable banking. The institution now has a network of 2600 outlets.
The institution specialises in offering retail customers basic transaction accounts, savings accounts and fixed term accounts (1 to 12 months.)
The institution is committed to providing customers with flexible banking solutions.
By opting for this bank account you have the benefit of recording all transactions with a savings book.
A minimum of only R10 is needed to open the account, which you can use to keep your money safe.
The account is a useful tool for instilling a savings culture within your child’s financial habits. The account is specifically designed for minors under the age of 16 years and can be used to save whenever an individual chooses to.
Funds can be withdrawn from any Post Office retail branch nationally. There are no waiting periods either. You can get immediate access to your cash.
Normal cheque deposits are free.
If you require a bank statement at the counter or for one to be mailed to you on request, you can expect to pay only R13.
You have the benefit of being able to earn up to 1.85% interest per year on the account.
What do you need to open the account?
- Birth certificate
- Parent/Guardian’s valid South African ID
- Parent or guardian must accompany you
- Parents’ proof of residence
For more information about the PostBank SmartSave Minors Account, visit www.postbank.co.za