1,500 minor accounts opened with BoB
Bank of Bhutan (BoB) opens a total of around 1,500 minor accounts on the young savers’ day on November 10 at the Centenary Park in Thimphu.
A young saver account is an account for a minor who is a person below 18 years of age.
It is the first time that BoB is initiating this kind of event and it will be organizing the same every year.
On the day, existing minor accounts were also converted to young saver account. The bank also entertained its clients and the young savers with free games and lucky draw lottery.
The lucky draw lottery was held all over its 44 branch offices among those who opened new accounts as well as those who converted existing minor accounts to young savers accounts. Three prizes of Nu 1,000 for first, Nu 700 for second and Nu 500 for third were directly deposited to the young savers’ account by the bank.
To open a young saver’s account, the documents required are two passport size photographs of the minor, two passport size photographs of the guardian or parent, a copy of health card or citizen identity copy of the minor and citizen identity copy of the guardian or parent.
An initial deposit of minimum Nu 200 is required.
Clients could also register for the young saver’s account and produce the documents later at the bank. The customer information form and account opening form were also made available in through the bank’s website (www.bob. bt) which they could fill up and bring at the event. BoB’s Chief Executive Officer Pema N. Nadik officially launched the annual bank event.
BoB’s PR and Media Head Passang Norbu said that coinciding with the Children’s Day, opening the young saver’s bank account was one of the best gifts parents could give their kids and empower them with the right knowledge and tools to learn about savings and sound finances.
He also said that saving for a child’s future especially for their education is one of the most important financial goals of a parent.
Every time the child gets cash, whether it is pocket money or birthday money, they can allocate a percentage to the young saver’s account.