Post Bank Smart Savings Account for Minors | Likemoney.co.za

Savings Account - Post Bank Smart Savings Account for Minors

Post Bank Smart Savings Account for Minors

 
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Post Bank Smart Savings Account for Minors

The Post Bank Smart Savings Account for Minors is designed for children or scholars under the…

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Post Bank Smart Savings Account for Minors

The Post Bank Smart Savings Account for Minors is designed for children or scholars under the age of 16 years. It is a safe and easy way to start saving for your kids’ future. The Post Bank Smart Savings Account for Minors is best suited for you if you have some money you want to put away safely but know you will need access to it in the near future. Cheque deposits are free into this account, although you will need to avoid special clearances as this can be a more expensive operation.

Post Bank Smart Savings Account for Minors Benefits: 

  • You are able to record all your transactions with a Savings book.
  • There is a minimum of R10 which is required to open the Smart Save for Minors account.
  • It is open to all minors under 16 years of age.
  • You can keep your money safe.
  • The Minors savings account allows you to withdraw from any Post Office retail branch nationally.
  • You can save what you want when you want.
  • The normal cheque deposits are free.

It is simple and easy to apply for the Smart Save for Minors Account as you can apply at your nearest Post Office. You will need to present your Birth Certificate, Parent/Guardian’s ID and if you are a minor, one of your Parents/Guardians must accompany you. Parents/Guardians may also need to provide proof of residential address.

 

Post Bank contact details:

Address: Industrie Wibsey,
Kent Ave,
Johannesburg, 1717

Tel: 0800 53 54 55
Email: [email protected]
Website: www.postbank.co.za

Account Details

Monthly Fee (R) 0.00
Minimum Opening Balance 10.00
Minimum Age 0 - 16
Best Interest 3.65%

Interest Rates

R50 - R1,000 1.0%
R1,000 - R10,000 1.40%
R10,000 - R50,000 1.40% - 3.65%
R50,000 - R100,000 1.40% - 3.65%
R100,000 - 1,000,000 1.40% - 3.65%

Deposits

Cheque Deposit Branch R0.00
Cheque Deposit ATM NA
Cash Deposit Branch R1.00 up to R199.99, + R1.40/R100.00 or part thereof above R199.99
Cash Deposit ATM NA

Cash Withdrawals

Branch counter R7.40
Own Bank ATM NA
Other Bank ATM NA
Overseas ATM NA

Account Payments

ATM NA
Branch Counter NA

Debit Orders

Internal Debit Orders NA
External Debit Orders NA

Fund Transfer

ATM NA
Branch Counter NA

Balance Enquiries

ATM NA
At Other Bank ATM NA
Branch counter R0.00
Overseas ATM/POS NA

Statements

Branch R0.00
ATM NA

Administration Fees

Bank cheque/marked cheque NA
Stop payments NA
Stop order NA
Special clearance R71.40

Added Benefits

Interest is calculated on a daily balance and credited to the account on the last day of every month.


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