Big dreams begin with small steps. The New Generation Deposit helps you build healthy saving habits and take the first steps toward financial independence. It is a solution designed to support you in achieving your future plans and goals.
Why choose this deposit?
Saving is one of the most valuable investments you can make in yourself. New Generation helps you build your savings gradually, offering flexibility and security at every step of your financial journey.
What should you know?
- The deposit is designed for customers aged 14 to 18.
- The deposit is available only in ALL (Albanian Lek).
- Fixed annual interest rate of 1.5%.
- The minimum amount required to open the deposit is ALL 1,000.
- There is no maximum limit on the amount that can be deposited.
- The deposit term lasts until the beneficiary reaches the age of 18.
- Interest is credited once a year, at the end of the calendar year.
What do you need?
- A valid ID card or passport.
- The presence of a parent or legal representative, in accordance with the product terms.
Deposit terms:
- You can make additional deposits at any time.
- Deposits may be made by a parent, legal representative, or by you in their presence.
- You can make partial or full withdrawals of the funds.
- A full withdrawal is considered closure of the deposit.
- No debit interest applies to this product.
*Deposits of individual customers at OTP Bank are insured up to ALL 2,500,000 (two million five hundred thousand) by the Albanian Deposit Insurance Agency – http://asd.gov.al
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.