ITF Account

Service/Product Target

Children or persons under the age of 18

Product Attributes/ Features

  • Minimum Balance of MK10,000
  • Interest paid once a year.
  • Interest is at 3% per annum. Subject to review
  • Signatory is the guardian.

Benefits To The Customer/User

Saving for a child or minor’s future needs.

Costs To Access The Product

None

Account Opening Requirements

  • Account opening forms
  • Copy of National Identity
  • Signature specimen/thumbprint
  • Utility bills
  • Map to residence/ business premises

Terms and Conditions

  • When the guardian dies before the minor gets into majority age, money on the minor account doesn’t become part of the estate so cannot be redistributed
  • Account will be handed over when the owner attains majority age of 18 years
  • Account should not overdraw or operate below required minimum balance

mission-vision

 Vision

To be the most successful financial institution in Malawi with an internationally visible presence.

Mission Statement

To provide outstanding and inclusive financial solutions that deliver sustained stakeholder value.