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Published on November 16, 2022
The Gen Z and millennials these days are very smart and conscious with regards to their ambitions and studies. With Gen Next savings account, parents can accumulate the corpus for their kids’ future and also monitor it timely to fulfil the kid’s future aspirations.
SIB Gen Next Kids savings account enables parents to save for their kids starting from day 1 to till 18 years of age. The account comes with a host of features to enable parents to motivate their children to create a pool of savings today for a secure future. SIB Gen Next Kids saving account can be linked to parent’s account and one can enable auto debits to ensure hassle-free investments in building the future corpus.
While unveiling the product, Thomas Joseph K, Executive Vice President & Group Business Head, South Indian Bank says, “India has the youngest population and we strongly feel that kids should be aware about financial savings and discipline in an early stage. This will help them get accustomed to the habit of savings and spending wisely.”
SIB Gen Next account will prove a valuable tool to enable parents to cultivate the habit their kids to save money securely and conveniently.”
Key features:
The children can operate their accounts independently once they turn 10 years of age. Prior to that, the account will be managed by the parents/ guardian.
The product is currently LIVE and customers can open the same in the nearest bank branch.