The Child Savings Account - the right present for your children, grandchildren and relatives:
- You can open it in BGN, EUR, USD or GBP;
- There is no minimum required amount for account opening
- Interest rate - 0.25% annually for all currencies;
- Bonus - the interest rate increases by 0.20% for each consecutive calendar year;
- There is no account opening charge and no maintenance fee;
- You can withdraw and deposit amounts with no limitation.
- The account holder must be under the age of 18;
- The account opener must be a major, not necessarily a relative of the account holder;
- Subsequently any person other than the accountholder may deposit amounts in the account;
- interest is paid once a year - on December 31st or upon the savings account closure;
- Cash withdrawals from the deposit account can be made:
- when the account holder is a minor (under the age of 14) - by his/her legal guardians with the permission of the district court;
- when the account holder is underage (between the age of 14 and 18) - by the accountholder provided one of his/her parents has given written approval and the district court has sanctioned it;
- by the account holder when he/she has either reached the age of 18 or is 16 and is married.