Understanding the value in saving is an important life lesson that every child should learn. Whether by teaching them to save up a fixed portion of their pocket money or to differentiate between a ‘need’ and a ‘want’ when shopping, parents should encourage children to develop a habit of saving from an early age.
Make a trip to the bank and open a savings account that kids can call their own. Then schedule regular return visits during the year to deposit fresh savings with them, for example after the Chinese New Year season to bank in their angbao money.
To give your child’s savings a headstart, choose the Maybank Family Plus programme which offers triple the interest and a host of other benefits. What’s more, from 1 October to 31 December 2016, customers who deposit S$20,000 into a Maybank Youngstarz Savings Account and S$10,000 into a Maybank iSAVvy Savings Account will receive a set of tickets to KidZania Singapore (2 adults and 2 children) worth S$186.
Your children can look forward to a fun and meaningful day out at KidZania Singapore – one of the hottest interactive indoor theme parks, where they will learn about different careers in the real-world through the myriads of role-play activities and develop important life skills. Among these activities, the Bank and Vault at KidZania Singapore can help children reinforce the concept of money management when they take on roles such as Wealth Manager or Cash Officer. Role-play include helping fellow kids to manage their kidZos (KidZanian currency) with a bank account or working as a team to prepare, deliver and protect the City’s money to ensure they reach their destinations safely!
A free family outing, perfect for the December holidays plus the opportunity to earn one of the highest interest rates for a children’s savings account*? What’s not to like?
Maybank Youngstarz Savings Account
Designed for children below 16 years old, with complimentary insurance and exclusive birthday privileges.
Maybank iSAVvy Savings Account Online account that adults can take advantage of, offering high base interest and additional interest-on-interest of up to 18%.
Deposit Insurance Scheme Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Minimum Sum Scheme are aggregated and separately insured up to S$50,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.