Pan Asia Bank offers ‘deposit for a deposit’ to safeguard children’s future
Tuesday, 20 January 2015 00:49
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‘Daskam’ is a unique value added Children’s Savings Account from Pan Asia Bank which is known for its innovative line of banking products.
‘Daskam’ Children’s Savings Account, which aims to provide maximum support to a child when he/she enters adulthood and faces life’s real challenges such as higher education, marriage etc., offers a unique ‘deposit for a deposit’ feature that helps them grow the account balance. Through this feature, for every customer deposit that is made to the account, the bank makes an additional deposit to the value of 10% of the customer deposit.
To make the balance grow even faster, the bank then pays an unbeatable annual interest of 8% (AER 8.33%) on the total balance. The interest is calculated on a daily basis and credited to the account at the end of every month. Parents can enjoy the benefit of receiving additional 10% deposit from the bank for any number of deposits they make, until the child turns 12.
For example, if a customer deposits Rs. 100,000 to a ‘Daskam’ Children’s Savings Account, Pan Asia Bank will make an additional deposit of Rs. 10,000 to that account immediately and then commence calculating interest at 8% (AER 8.33%) on the total balance of Rs. 110,000.
The main idea behind ‘Daskam’ Children’s Savings Account is to provide a stable financial foundation for children when they turn 18, instead of offering them short-term benefits via a gift scheme that might leave them with a comparatively lower account balance and few gifts that may be of limited use when they grow up.
With the introduction of ‘Daskam’ Children’s Savings Account, Pan Asia Bank has enabled parents to make a responsible choice for their children’s future that would help them face life’s real challenges with confidence and reach their full potential.
For any further details or clarifications visit the nearest Pan Asia Bank, contact (011) 466 7222 or visit www.pabcbank.com.
