Sber offered its customers a deposit that a parent could open for their children under 14 years of age. This was reported by the bank’s press service.
As Sber explains, SberKids+ deposits can be made remotely, from the bank’s mobile application. It is stated that the depositor is the child and the parent is his/her representative. Therefore, the depositor to whom the funds belong is the child.
“We are pleased to present SberKids+’s unique contribution to Russians with children. For the first time in Russia, such a deposit can be opened entirely online. Previously, this could only be done in the bank’s office: it was necessary to collect a package of documents for the child and write an application,” said Sergei Shirokov, director of Sberbank’s “Borrow and Save” department.
According to him, currently it does not take more than a few minutes for this deposit to be recorded in the bank application. He explained that deposit renewals can be made at any time and in any amount.
Shirokov explained that SberKids+ will allow parents to raise startup capital for their child’s adulthood. According to him, this will also help the child learn more about how to build savings and teach them how to skillfully manage their own funds.
“According to our data, more than 20% of Sber depositors have reached the age of majority in whose name their parents opened deposits, left money on deposit, continue to save and receive interest income,” added the director of “Borrow” and Sberbank’s Save” department.
Sberbank announced that the deposit is now available to customers who have previously opened a children’s product at the bank (for example, a children’s card or a deposit for a child at a bank branch).