My husband and I value discipline especially when it comes to saving money.
One penny may seem to you a very insignificant thing, but it is the small seed from which fortunes spring.
~ ORISON SWETT MARDEN, The Optimistic Life
In Tagalog… “walang ISANG MILYON PISO kung walang ISANG PISO.”
Every month, Papa O and I set aside a certain portion of our earnings for Baby A’s trust fund. We were planning to open an account for Baby A when she turns 7 because I had my first bank account when I was that age. But, we don’t have to wait that long pala.
PSBank now has a Kiddie Savers Account for children from 0 to 12 years old and a Teen Savers Account for children above 12 to 18 years old.
Minimum Maintaining Balance: Php 0.00
Daily Balance to Earn Interest: Any Amount
Evidence of Deposit: Passbook & ATM Card (upon request)
Interest Rate (per annum): Click here for the prevailing rates
Interest Crediting: Monthly
Note: NO MINIMUM MAINTAINING BALANCE!!!
PSBank Kiddie Savers Account comes with a free personal accident insurance from Charter Ping An Insurance Corporation. The insurance coverage is equivalent to five times the value of average daily balance. So, the more money you put in, your child’s insurance coverage will also be higher (maximum of Php 500,000.00).
Opening a PSBank Kiddie Savers Account is very easy. It took us only 15 minutes. Baby A didn’t want to leave pa nga because she was enjoying her stay in PSBank. The bank is child-friendly kasi.
To open a Kiddie or Teen Savers Account, all you have to do is bring the following:
- For parent/guardian: 1 primary ID or 2 valid secondary IDs (1 should have a photo and signature)
- For your child: birth certificate, passport, or school ID
Then, you just have to fill out the Application Form, Specimen Signature Cards, and some bank forms. A PSBank account officer will be there to assist you.
The PSBank Kiddie and Teen Savers Account may be opened as:
- In-Trust-For (ITF) account
- “Joint OR” or “Joint AND” accounts
- Individual account for each of your children.
Since Baby A does not know how to write yet, we opened an ITF account for her. It’s easy naman to change it to a joint or individual account later.
Special thanks to Ms. Odette and Ms. Cha of PSBank Global City Branch for the great service!
Soon, we will teach Baby A to save. Requirement yan ni Papa O, ang hari ng tipid. But ofcourse, agree naman ako. ;-P You should never underestimate the value of saving for the future.
Start them young. Teach your kids the value of saving for the future.
Visit PSBank now!
To know more about PSBank Kiddie and Teen Savers Account, click here
This is a sponsored post but all views and opinion expressed herein are not influenced by the sponsor.