Equitas Small Finance Bank Limited is all set to launch the kids' savings account called ENJOI, on the occasion of Father's Day – June 19, 2022.

The account introduces young children to the financial world,

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Encouraging them to develop an early habit of saving through which they can watch their money grow as they get older.

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According to the Small Finance Bank, ENJOI will allow kids of 0-18 years to open savings accounts under the supervision of their parents.

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Minors aged 10 & above will also get an option for a personalized Debit Card.

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To promote higher growth in savings, the account offers best-in-class 7% interest for savings balances between R .5 Lakhs to Rs 2 Crores.

Upon written consent from parents, minors aged 10 & above can also avail of a self-operating account with limited transaction limits.

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The account will also help them take their first step towards a new age and technology-oriented banking experience

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The account offers flexibility to choose the mode of savings either as a Savings Account,

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Balance starting as low as Rs 1,000; RD Recurring Deposit for Rs 500 monthly; FD Fixed Deposit for Rs 10,000.

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