YOUTH SAVINGS CLUB

Type of deposit

YOUTH SAVINGS CLUB

Currency

• MKD

• Minimal deposit: 50,00 MKD

Term period

• At call

Making an agreement

  /

Interest rate

• 1 % fixed interest rate 

 Interest rate is calculated on the basis of compound method

Confidentiality

• Deposits data are a business secret of the FULM Savings House

Insurance

• The Savings House insures the deposits with the Deposit Insurance Fund
• FULM Savings House guaranties with its founding capital for the security of the deposits

Specification

• The depositor is the child – user of the service

Advantages

• Safe place to save
• Flexibility when making deposits
• Interest + prize
• Ability to withdraw the deposit without prior notice 
• Acquiring a habit to save since early age
• Indexation clause (protection from devaluation) included as an act of social responsibility because of the small amount of children’s accounts