The FINANCIAL — For the first time in the history of the Georgian banking sector, Bank Republic is offering the unique product – Child Deposit Gift Card.
This is an original gift which ensures a child’s successful future through allowing savings to build up in an individual account over the child’s life. To open a Child Deposit parents should visit their nearest branch and buy a Child Deposit Gift Card with an initial deposit amount of 20, 50, 100 or 500.
“This is a gift that will grow together with your child,” said Keti Arveladze, Product Development Officer at Bank Republic. “To open a deposit it is enough to submit just one’s ID card. The Child Deposit from Bank Republic is the best product for taking care of one’s child’s future. Parents who have some savings or a stable income and would like to ensure a successful future for their child can now put aside some money for his/her future education, house or some other future purchase. We offer customers the chance to open a Child Deposit and get a high rate of interest on their savings. Parents are free to add any amount of money to the deposit at any time,” she added.
“The Bank has different percentages on its Child Deposit in GEL as well as in foreign currencies. Furthermore the Child Deposit Gift Card is a new product on the market and we are proud to be offering such an innovative product. The deposit is available from after the birth of a child until he/she is eighteen years old,” Arveladze added.
The deposit may be opened by a parent or any other person. Opening and servicing the deposit is free of charge. The addition of money to the deposit is possible via internet banking or pre-agreed instalments, without having to visit the Bank.
The annual interest rate of the Child Deposit is: in GEL – 14.00 percent, in USD – 9.00 percent, and in EUR – 8.75 percent. 0.5% is deducted from the annual interest rate unless additional funds are added to the deposit account on a monthly basis.
“First of all we have our own financial interest of course, to attract more deposits. But on the other hand we are a socially responsible bank,” said Eka Toroshelidze, Director of the Department of Marketing, PR and Branding of Bank Republic. “We want to teach our future clients from childhood of the proper management of money and how to save money. A child can learn to save money in their piggy bank and start saving in such a way. The Child Deposit Gift Card is an ideal gift for your friends’ children. This is a gift which proves equally popular with children and their parents,” she added.
The Child Deposit and Child Deposit Gift Card are part of the campaign which Bank Republic is offering customers this summer. The Bank aims to offer a dream summer to its customers and is therefore creating innovative products such as its Renovation Loan and Auto Loan with Hyundai Auto Georgia.
Bank Republic will provide many other interesting and convenient offers to customers during the year.