1,500 mi­nor ac­counts opened with BoB

Business Bhutan - - Money - Dechen Dolkar from Thim­phu

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.

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