Top Low Interest Rate Kid’s Savings of November 2021

A Kid’s Savings Account is a type of Saving Account that can be opened in the name of children under the age of 18 for the purpose of future savings. It's a savings account for kids to encourage them to put money aside for the future. It helps children in securing their financial future while also teaching them the value of financial security.

There are many banks, financial institutions that offer customers the lowest interest rates on a kid's savings. There are typically two types of accounts you can open for your child: a savings account or a custodial account, and the difference is important. If you open a savings account, you and your child will have joint ownership of the account, and your child will be able to access funds from the account (with the parent being able to monitor the account). If you open a custodial account, also known as a Uniform Transfers to Minors Act account, the money in the account is treated as a gift asset that belongs entirely to your child and cannot be accessed until they reach the age of 18. The children’s savings accounts sometimes offer unique features that can help make saving for kids.

Here are the top low interest rate kids saving of November 2021 that are offered by the banks in Nepal.  The average interest rate of all the banks are taken and calculated.  

1. NIC Asia Bank Limited

If you are willing to open a savings account for your children this November, NIC Asia bank limited might be the right choice for you as it offers home loans at a lowest interest rate i.e. 2.56 % in comparison to any other banking institutions.

2. Standard Chartered Bank Nepal 

Standard Chartered Bank Nepal offers the kid’s savings at 2.75 %.

3. Nabil Bank Limited

    Everest Bank Limited 

    Machhapuchhre Bank Ltd

In comparison to other banks, Nabil Bank Limited, Everest Bank Limited, Machhapuchhre Bank Ltd provides  the Kid’s savings at 4.36 % interest rate respectively. 

4. Siddhartha Bank Limited

Siddhartha Bank Limited offers the kid’s savings at 4.45%. 

5. Kumari Bank Ltd

Kumari Bank Ltd offers kid’s savings at 4.47% interest rate as compared to other banking and financial institutions.

6. Global IME Bank Limited

 It offers the kid’s saving at 4.5%

7. Sunrise Bank Limited 

    Nepal SBI Bank Limited

Sunrise Bank Limited and Nepal SBI Bank Limited provide the kid’s savings at the interest rate i.e. 4.56 % respectively. 

8. Nepal Credit and Commerce Bank Ltd

 Nepal Credit and Commerce Bank Ltd offers the kid’s saving at the interest rate i.e. 4.69%

9. Prime Commercial Bank Ltd

Prime Commercial bank offers kid’s savings at 4.76 % interest rate as compared to other banking and financial institutions.

10. Prabhu Bank Limited

Prabhu Bank Limited offers kid’s savings at 4.82 % interest rate as compared to other banking and financial institutions. 

11. Nepal Bangladesh Bank Ltd

Nepal Bangladesh Bank Ltd offers kid’s savings 4.86 % interest rate as compared to other banking and financial institutions. 

12. Century Commercial Bank Ltd

Likewise, Century Commercial Bank Ltd offers kid's saving at 5 %.

The above mentioned are the banks that offer you with the lowest interest rate on Kid’s savings this November.  On the basis of the terms and conditions of the banks  you can choose the best one that suits you. 

Last updated on: November 16, 2021