Esteem Kids Savings Account (Mudarabah)
The Esteem Kids Savings Account (Mudarabah) is a Shariah-compliant savings account designed to help parents and guardians build a secure financial future for their children.
Esteem Kids Savings Account (Mudarabah)
The Esteem Kids Savings Account (Mudarabah) is a Shariah-compliant savings account designed to help parents and guardians build a secure financial future for their children. Operated under the principle of Mudarabah (Profit-Sharing Partnership), the account allows funds to be invested in Shariah-compliant ventures, with profits shared based on a pre-agreed ratio.
The account is opened in the child's name and managed by a parent or legal guardian until the child reaches the eligible age to operate the account independently.
Features
- Operates under the Mudarabah (Profit-Sharing) principle.
- Profit sharing from Shariah-compliant investments.
- Opened in the child's name and operated by a parent or legal guardian.
- Instant Verve or Mastercard Debit Card issuance (where applicable).
- Access to Esteem Online, Mobile, and USSD Banking services.
- Free monthly e-Statement of Account.
- SMS and Email transaction alerts.
- Supports cheque and dividend warrant lodgments (subject to the Bank's policy).
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