OTP Bank

New Generation

The New Generation Deposit is a savings deposit offered to all teenagers from age 14-18.

Benefits

  • The minimum amount for opening the deposit is 1,000 ALL.
  • The maximum amount required does not apply.
  • This deposit can only be opened in ALL.
  • Maturity: The maximum term of this deposit is until its holder reaches the age of 18 years.
  • Deposits: The client is free to deposit at any time. Deposits can be made by parents or legal representative; or by the adolescent himself in the company of the parent or legal representative.
  • Withdrawal: The customer is free to make partial or full cash withdrawal of the deposit. Partial cash withdrawal will be considered any withdrawal that respects the minimum amount required on deposit. Full cash withdrawal will be considered the withdrawal of the entire amount on deposit which will be accompanied by the closing of the product.
  • Interest credit crediting period on the account: Once a year, at the end of the calendar year.
  • Credit interest rate: According to the valid Bulletin of Interest Rates for Deposits.
  • Debt interest rate: No debt interest is applied to this deposit.

Documentation

  • For the child: Passport / Identity Card / Personal certificate of the child
  • For parents: Passport or Identity Card, Family Certificate and notarized document "Written authorization" from the other parent if only one parent is present.
  • For the Legal Representative: Passport or Identity Card and Certificate from the District Court for custody of the child.