Key benefits
- Open an account without a minimum balance
- Interest is earned on balance of Rs1 and above
- Benefit from high return on the account
- Earn end-of-year bonus interest (paid in December)
- No monthly fee
- Easily access and manage your child’s account through our internet and mobile banking services
- Exclusive offers at selected partners
- Education plan on offer
- Eligible for preferential pricing on credit facilities up to 3 times of the Junior Savings account balance (for the parent when the child turns 18)*
- Absa Card Offers : Enjoy up to 50% discounts on 300+ outlets with your Absa card (absabank.mu)
Requirements
- Your child needs to be under the age of 18
Let us contact you Find a branch
Speak to an Absa representative
Let us contact you to get started, or visit your nearest branch. Make sure you have the following documentation in its origional format:
- The birth certificate of child
- Parent or legal guardian’s national identity card or passport
- Proof of address, parent or legal guardian's proof of address not older than 3 months (e.g. utility bill)
- Birth certificate or marriage certificate if the relationship needs to be established
- Utility bill in your name not older than 3 months at the time of application
To note
When the minor turns 18, the parent or legal guardian may be entitled to a preferential interest rate on new credit facilities applied by the said parent or legal guardian in their name.
The preferential interest rate will be based only on the portion of the total amount not exceeding three times the balance held on the Junior Savings Account as at a day before the minor’s 18th birthday. The parent/legal guardian should also meet the Bank’s credit requirements to be eligible. This offer is limited to only ONE parent/legal guardian and for a period of one year as at the minor’s 18th birthday. The Bank may, at its discretion, revoke this offer at any time.
