Child saving is a saving system where parents/guardians of children under 18 years save in the name of their children. Special interest rate can be instituted to encourage child saving. o This saving product could benefit parents/guardians and their children by developing savings habit or culture, helping their child to set a financial goal and to finance their education, health and nutrition. o Both the loan and saving clients of the institution can be enormous targets of child savings account. o Up to the age of 18 years, withdrawal of the cash is decided by the will of both the child and the parent but after reaching 18 years, it will be decided by the account holder, i.e. the child. o A child whose age is below 18 years cannot withdraw the deposited money by his/herself. As per the contractual agreement made between the account holders (parent with child) and the institution, withdrawal is carried out at the institution office during working hours on the physical presence of the parent and child for whom the savings account was opened. o Deposit amount and frequency is flexible on both regular and irregular sizes at any time during working hours. Product Boundaries Saving type: Voluntary Age range of clients: less than 18 yrs Minimum opening balance: Br. 50 Maintainable threshold balance: Br. 20 Interest rates: 8% Tax Deductible rate: 5%