NCSL promotes children’s savings accounts

The National,Wednesday June 29th, 2016

THE Nasfund Contributors Savings and Loan Society Limited has provided a product which allows children to have their own savings accounts.
It conducted four road shows this month to promote the new savings product for children between three and 18 years of age.
The Kids Savings Account aims to instill a savings culture at an early age.
A total of 139 new KSA members have registered in the road shows conducted. The trial started this month.
NCSL staff set up an information booth and conducted registrations for members and non-NASFUND contributors, especially public servants and those in the informal sector.
NCSL encouraged parents and their children to open their accounts and grow that investment with an initial deposit of K1 only.
Any interested child under 18 with their parents’ consent is eligible to open a KSA.
It includes children of current NCSL members and non-members.
The road shows will continue. Since membership is voluntary, NCSL aims to bring the road shows to the public as part of its awareness programme and bring products and services to its members.