Realize your children’s dreams by providing them financial security. The Children’s Savings Account helps you plan your child’s future, from infancy to adulthood.

Learn more about Children’s Savings Account

This is the perfect gift for your son, daughter, grandchildren, nephews and nieces

Opening an account

  • Parents or guardian of a child from an infant to 18 years of age is eligible to open an account and obtain benefits from this Children’s Savings Account. Interest will be credited monthly to the child’s account.
  • To open an account please collect a Children’s Savings Account application form, from CBM Main branch or download it from this link, complete the form and hand it in with the original Birth Certificate or a valid identity document of the child together with a photocopy. The originals will be returned to you.
  • Please remember to take your identity document or Passport with valid work permit (only for non citizen residents). This is important for us to identify you and ensure your account’s security.

Withdrawals

Interest will be calculated on the daily balance and credited to your account monthly.

The Essentials
  • A higher interest rate than the rate offered for Regular Savings Accounts
  • You can open the account in both USD and MVR
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