Laco Kid Account

This is a Trust account and an interest-bearing savings account for children aimed at encouraging parents to save for the children as well as to inculcate in children the habit of saving.

Target

Children from age 0 to 17 years

Features

  • Initial minimum opening deposit of GHS 50
  • Highly competitive applicable interest rate [ 5%pa]
  • Deposit build up in the account can be driven by standing order or direct debit instructions from parent's account to the child's/ beneficiary’s LACO-kid Account
  • Minimum amount transferable under a direct debit or standing order instruction
  • One withdrawal per month
  • Withdrawals forfeits interest

Benefits

  • Encourages Parents to save for their children
  • Children are also encouraged to save at an early age
  • Funds in the LACO-Kid Account can be used as collateral for credit facility from the Bank including school fee loans
  • Series of promotions including periodic raffles/ with chances of wining prices/ awards to travel on educational/vacation trips within Ghana.
  • End of year/Anniversary attractive presents example birthdays
  • Educational Club memberships for account beneficiaries.
Download Account Opening Form