The Junior Savings Account is a savings account designed to provide a savings facility for parents to save for their children who have not reached the majority age.
The account has the following features:
a) The member opens an account for every child as he/she wishes.
b) The account name is the child's name, while the parent has the sole mandate to operate it.
c) The minimum monthly saving for each account is Ksh.500 mainly through check-off but any other mode acceptable.
d) Withdrawal from the account is permitted after every three months.
e) Withdrawal before three months are over may be permitted at a charge of Ksh.500 per withdrawal.
f) Minimum interest earning balance is Ksh.5000.
g) Competitive interest rates.
h) The account attracts no monthly charges or account maintenance fees.
i) The account give a member the advantage of borrowing the Junior Education Laon.