PAB launches Daskam children's savings account

Pan Asia Bank (PAB) launched the Daskam children savings account. Daskam Children's Savings Account aims at providing maximum support to a child when he or she reaches adulthood and offers the 'Deposit for deposit' which helps the account balance to grow. For every customer deposit, the bank makes an additional deposit to the value of 10 percent of the customer deposit.

The Bank pays an annual interest of eight percent (AER 8.33percent) on the total balance. The interest is calculated on a daily basis and credited to the account at the end of every month. Parents can enjoy the benefit of receiving additional 10 percent deposit from the bank for any number of deposits they make, until the child reaches 12 years.

For example, if a customer deposits Rs.100,000 to a Daskam, Children's Savings Account, Pan Asia Bank will make an additional deposit of Rs.10,000 to that account and calculate the interest at 8 percent (AER 8.33percent) on the total balance of Rs.110,000.