CalBank KiddySave Account

Give your kids a head start and a promising financial future

Giving your child the right jumpstart in life could never be earlier. Inculcating in your children how to manage their money from a young age will benefit not only them as they grow but will also help them to be financially sound in their adult life.

Kiddysave Account

CalBank KiddySave is a savings account designed for children up to 18years with no monthly fees but a host of added benefits. It gives trustees the opportunity for parents or guardians to build up funds to support their wards’ life needs. In a situation of death, incapacitation and unemployment of the Trustee, the child/ward of can still acquire some Education or Trade with the savings in the account.

  • The account is operated by the parent or guardian (Trustee). However, after the beneficiary attains the age of 18 years, the account shall be transferred into the child’s preferred CalBank account
  • Access to Life Insurance Policy to protect the savings (Optional)
  • Account Withdrawal:
    • One withdrawal every year.
    • Trustees can withdraw up to 20% of the total account balance every year
  • Account can be upgraded to Teen Account when the beneficiary is 13 years
  • Competitive and tiered interest is paid based on account balance
  • Trustees can use savings in the account to apply for a loan to pay the school fees of the beneficiary (Terms & Conditions Apply)
  • Trustees can use savings in the account to apply for a loan to pay the school fees of the beneficiary (Terms & Conditions Apply)
  • Children from day one until they are 18 years.
  • Birth certificate, identity card, weighing card or baptismal card of the child is accepted.
  • One (1) current passport picture of the child.
  • 2 (two) current passport-size pictures of the Trustee.
  • Identification of Parent or Guardian e.g. Passport, Drivers Licence, NHIS Card, Voters ID Card.
  • Two copies of Child’s Passport pictures
  • Proof of residential address (Water or Electricity bill in the name of the parent/ guardian or attach a tenancy agreement when the name on the bill is not the same name as the parent/guardian.
  • An initial deposit of GHS20.00.
  • Minimum account balance is GH¢20.00.
  • Minimum monthly deposit of GHS5.00 (Standing Order, preferred).
    • Complete CalBank’s Standing Order Form (Existing Clients) or submit proof of a standing order from a different bank (Non Account Holders).
  • Minimum balance to earn interest is GH¢200.00 and above.
  • Standing Order is preferred for monthly account funding. However, Cheques and Cash payments are also acceptable.
  • Access to yearly e-statements.
KiddySave Rates
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