Sberbank has introduced a deposit option that allows a parent to open an account for a child under 14 years old, as reported by the bank’s press service. The new product, named SberKids+, is designed to be managed remotely, using the bank’s mobile app. In this setup, the child is the depositor, while the parent acts as the representative. This means the funds belong to the child from the outset.
From Sberbank’s perspective, SberKids+ marks a distinctive step for families in Russia. For the first time, a deposit for a minor can be created entirely online. Previously, opening such an account required visiting a branch and assembling a formal document package for the child and submitting an application in person, notes Sergei Shirokov, director of Sberbank’s Borrow and Save division.
Shirokov added that the process now takes only a few minutes to be reflected in the bank’s application. He also highlighted that deposits can be renewed at any time and in any amount, providing flexibility as a child grows and savings needs evolve.
The executive explained that SberKids+ is intended to help families seed capital for the child’s future, supporting goals such as education, independence, and the transition to adulthood. The program is also presented as a learning opportunity, offering a practical way for the child to understand savings, budgeting, and the stewardship of their own funds as they mature.
Data from the bank indicates that more than 20 percent of Sber depositors reach adulthood while their parents still hold deposits in the child’s name, continuing to save and earn interest income on those accounts. This trend underscores the potential long-term value of starting early and keeping money in a child’s name to grow over time.
Sberbank noted that SberKids+ is available to customers who already hold a children’s product with the bank, such as a child’s card or a deposit opened for a minor at a branch. This rollout expands access to families who want a streamlined, online option that aligns with modern banking habits and digital friendliness.