Early Savers Club Account
The G.B.T.I. Early Savers Club is open to children from birth to 17 years of age. It provides an opportunity for parents and children to plan finances for education and other growing needs. It is also a unique method for forming strong saving habits in children. Interest is calculated on the minimum balance for the quarter and paid at the end of April and October.
Many special benefits are tied to membership of the Club:
a) A premium interest of 0.25 percent above the regular saving account rate is paid on accounts
b) Bursary awards are given according to set criteria upon successful completion of the National Grade Six Assessment.
c) Birthday Cards are sent on that special day
d) A free ATM Card is available on your 12th birthday
e) Annual Prize Drawing – enter the annual prize competition with every $1,000 deposited
f) Gift Vouchers – parents and friends can purchase these for presentation on special occasions
g) Enjoy discounts on purchases at participating stores.
Withdrawals
| ATM |
|
| 12 to 14 years old |
$10,000 per day |
| 15 to 17 years old |
$15,000 per day |
| In Bank |
|
| Under 12 years old |
Allowed any amount with a parent or guardian present |
| From 12 to 17 years old |
Up to $5,000 per day with positive identification |
How to Apply
The requirements for the opening of an Early Savers Club Account are:
1) Minimum opening balance of $1,000
2) Birth Certificate of the child
3) Valid Identification Card or Passport of the parent
4) Proof of Address
