Gem Junior Savings Account

This account aims to cultivate and encourage the culture of saving and financial awareness in your child. The account is for members’ children below 18 years. The children will learn that effective savings is through several small amounts as they do with a piggy bank ,but now, in a real Bank

• KSh 1,000 minimum monthly or periodical lumpsum-Banking from their piggy banks in the house to this Gem Junior Account.
• Minimum saving period: 12 months.
• Attracts interest per annum.
• Minimum interest earning balance: Ksh 5,000.
• The account is operated by the parent or guardian (child’s birth certificate is required).
Withdrawal Terms:
• Full or partial withdrawal is allowed after term maturity (12 months from the fixing date). Member to give written instruction through the savings withdrawal form.
• Member to give written instruction in case they want to roll over the principal or principal plus interest to a new fixed term. If no instruction is given, the amount will be rolled over automatically for the same duration