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.
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.
