[TBC Bank] Child Deposits

Account Description	Child Deposit enables you to save money for children until they reach adulthood. Compared to the other deposits, it has higher interest rate and has no fixed deposit schedule.
Interest	GEL-16%, USD-9%, EUR/GBP-8.75% The standard interest rate will be applied if the deposits are made monthly, otherwise deposit will accrue 0.5% less interest. The interest is fixed during 1 year. After the first year the interest rate will be reviewed and set according to the current rates of the bank for child deposit. For additional deposits after the first year, accruals will be made according to the current rate of the deposits made. Given interests are valid for individuals residing in Georgia.
Account benefits	High interest rate. No fixed deposit schedule.
Minimum/Maximum Deposit Requirement	The initial minimum deposit is not required! Further required deposits - as low as 10 USD/EUR/GEL/GBP.* The number and the maximum amount of deposits are not restricted.
Term	The minimum required period is 2 years. The maximum term-until the child reaches legal adulthood age.
Interest Accrual	Interest is accrued on the annual basis through a compound interest rate. The first interest rate accrual will be placed in a year after the account opening.
Premature Cancellation	In the event of premature cancellation, the deposit holder will receive 70% of the total interest accrued during the period.
Operations	Besides the cash operations, you can make additional deposits to the Child Deposit account via Internet Banking, Phone Banking, Mobile Bank and Transfers for more flexibility.* The deposit can be automatically prolonged for the same period (maximum till the child’s adulthood age) after the maturity.
Necessary Documents	Birth certificate of a child ID card of a person opening the account
Fees	Account opening and transactions - Free Of Charge. Child Deposit account is opened in USD,EUR, GBP and GEL.
Taxation	NONE

* The additional deposit amount is not limited only if the transaction is made via our Remote Banking services such as Internet Banking and Transfers.

Bonus!

Open a Child Deposit for the maximum term - till the child’s adulthood and earn extra 0.5% interest for the first two years!

We can provide the financial future of your child.