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Minor Savings Account (At the age of 16 years old) based on his/her income source)

The account will be opened in the presence of the minor and managed by him/ her as the account holder.

- Transactions on the minor account can only be executed by the minor (account holder), even if deposits in the account are made by the parent, custodian, guardian, benefactor, or others.

- The minor is obliged to provide a clear and readable full-name signature format on the account opening form and the specimen signature form.

- Application for third-party deposits shall be sealed by the following sentence “Cash withdrawals shall be done only by the minor himself/ herself”

- The minor may not open a current account, establish a time-deposit request, or a checkbook issuance request on his/her behalf

- The minor, as the account holder, doesn’t have the right to make transactions on any other accounts under his/her name, or the parent/custodian’s name. The minor also doesn’t have the right to make any withdrawals on the CDs purchased on his/ her behalf by the parent/ custodian/ benefactor until reaching the full legal age of 21 years, or as per the conditions of the gift statement.

- The minor, by opening this account, has no right to deal in any other accounts opened in his name with the knowledge of the father or guardian, or to deal in savings certificates purchased in his name with the knowledge of the father or guardian or endowment from others, except when he reaches the age of 21 years, or as per the conditions stated at the endowment assurance.