1. What is a Junior Account?
Junior Account is specifically designed to teach your children the benefits of saving. It helps you inculcate the habit of saving money in your children while planning for their future at the same time.
2. What documents are required to open Junior Account?
o Child is under age of 18
o Certificate of birth or passport (with at least 3 months validity) or any other identification document issued by the authority
◾ Parent or Guardian
o Be adults age 18 and older
o Have an identification document such as Cambodian identify card, passport (with at least 3 months validity) or any other identification document with photo and issued by the authority which are:
o Identification document with photo issued by local authority, or
- Family book (for family leader), or
- Family book (for family member) or residential book and also attach other documents with portrait such as employment ID, driving license, or government official ID, etc.
3. What currency can I open Junior Account?
Junior Account can be opened in US Dollar.
4. What is the interest rate of junior account?
Canadia Bank offers very competitive interest rate of 5.50% p.a. However, the Bank reserves the right to change the interest rate from time to time without any prior notice.
5. What is the minimum balance for Junior account?
Junior Account has only USD200 minimum balance.
6. How to make deposits into Junior Account?
Parent or guardian can deposit into Junior Account in cash/cheque or money transfer of up to USD100,000 per year otherwise approval is required.
7. Can a parent or guardian make withdrawals or payments through Junior Account?
Parent or guardian has the rights to make withdraw if the balance is over USD2,000 however other electronic banking transactions or payments are not available.
8. Can a parent or guardian close the account before the due date?
Yes, he/she can.
9. When can a child be eligible for this account?
When a child is 18 years old or set by a parent or guardian.