Three Things You May Want to Consider When Opening a Bank Account for Your Child
When we opened a savings account for the girls 5 years ago, we picked the bank that we usually go to. Luckily we were able to choose the one that came with many benefits and additional perks. Nowadays, many banking institutions offer so much more as they compete with one another to get more customers. While my hubby and I also look at which bank offer higher interest rates, the proximity and the queue, there are other things that you may also want to think about when availing banking services for your child. Minimum Investment How much money you would like to put in is one of the first things you need to ask yourself. You may go for the minimum or you may take the minimum investment to earn interest. Bank of Commerce for example, only takes Php200 to open a bank account, but you have to have Php10,000 to earn interest monthly. Banks may ask for zero to Php2,000 as initial deposit to open one. PSBank offers an account for kids and teens for zero invest...