Our Youth Savings Account is the coolest most up-to-date way of introducing the habit of saving to your 10 to 18 year old.
Your child will receive an opportunity to manage his or her own finances whilst keeping track of all banking transactions, teaching them responsibility and financial management.
They will receive an ATM card, to gain fast and convenient access to their account 24 hours x 7 days a week.
He or she can apply for Educational Loans and other banking facilities up on reaching 18 years of age.
To open an account please collect a Youth 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.
Withdrawals up to MVR 2,000/- per day can be made through Bank counters or ATMs.
Terms & conditions apply
Product information and terms & conditions are subject to change from time to time.
Therefore, it is advisable to contact the Bank for the latest information and prevailing terms & conditions.