Kids - the future is in their hands. So here's something special for them to reach out to that future. City Kids is a novel concept from The Calicut City Service Co-operative Bank which aims to empower our children financially and keep their tomorrow safe.
As per this scheme, a child below the age of 18 can start a deposit. Rs. 100 will be enough to start with and then, they can keep adding any amounts of their choice to the deposit. Parents will have the right to operate this for their wards. By the time they reach 18 years of age and in case the total deposit amount has crossed Rs. 10,000, then the sum will be converted in to fixed deposit.
The advantage with this scheme is that even amounts as small as Rs. 10 can be added to the deposit. This will help develop self-respect and a sense of responsibility among the children and also will teach them how to manage money responsibly. The result would indeed be that they will grow up as even more mature and diligent individuals.