Handhura Children’s Wadi’ah Saving Account

The account is opened by parents/ guardians for a specific benefit of the children under 18 years of age to deposit money for their future career.

Basic Features of the Product

  • It is wadiah saving deposit facility provided to child of less than 18 ages under guardian guidance;
  • Opened and operated by the parents jointly, or by the parent or guardian, or solely by themselves (as the case may be);
  • The account should be named in the name of the custodian followed by the name of the minor;
  • The account is administered by parents/guardian until the child becomes able to do so;
  • The account will be operated through passbook until it is to be operated by the minor;
  • No debit card is issued on this account;
  • The account can be opened with zero balance as long as the customer agrees to make deposit within a month since the opening date;
  • Withdrawal at any time and any amount is allowed;
  • Payment is enabled to the junior when he/she attains the age of youth i.e. the account will be changed to normal wadiah saving when the age of the minor reaches 18 years;
  • After age of 18 years, the minor has the right to operate the account without the guidance of his/her guardian.