yellowkid Savings Account

for every wish they may have…

New yellowkid Savings Account in euro, for children up to 18 years old. The account bears an attractive interest rate for the kid’s savings, it rewards regular saving with yellows and offers yellow welcome gifts to the kid!

INTEREST
PAYMENT
Annually
INTEREST RATE
Flat Rate
IDEAL FOR
  • Saving for a child
KEY
ADVANTAGES
  • Attractive yield
  • Flexibility on saving
  • Reward with yellows
  • yellow gifts for the kid
INTEREST
PAYMENT
Annually
INTEREST RATE
Flat Rate
IDEAL FOR
  • Saving for a child
KEY
ADVANTAGES
  • Attractive yield
  • Flexibility on saving
  • Reward with yellows
  • yellow gifts for the kid

How you benefit

Saving for the kid

yellowkid Savings Account is the ideal solution for parents who wish to save up for their kid’s future needs or wishes, no matter how big these are (e.g. college, a bicycle etc.).

Flexible Saving

With yellowkid Savings Account you save up regularly and automatically via a standing order, which makes it easier to reach the goals you have set. Furthermore, you are free to make extra deposits at any time (e.g. birthday gifts etc).

Reward

yellowkid Savings Account, rewards regular saving with yellows and offers yellow welcome gifts to the kid.

Opening the account

To open yellowkid Savings Account, the following is required:

  • An initial deposit amount of €50
  • Set up a monthly standing order of money transfer from another deposit account you have at Piraeus Bank
  • Beneficiaries: only one child and at least one adult
  • Main beneficiary: an adult, who must be enrolled in the yellow Reward Program

In order to add a child as beneficiary of the account the following is required:

  • birth certificate of the child
  • signature of a consent form from the parents or those who have the parental responsibility of the child

You can open the yellowkid Savings Account at any Piraeus Bank branch.

Find the closest branch

Read the "Have you introduced yourselves?" brochure, to find out which identification  documents you are required to submit, according to the current regulatory framework.

Interest Rate

yellowkid Saving Account bears a flat rate regardless of the account balance, which is significantly higher than that of simple demand accounts.

You have no restrictions on the transactions you can make. However, if you make more than 12 debit transactions in an annual period (starting on the account opening anniversary date), interest will accrued based on the Savings Account Base Rate.

Interest is paid annually, on the account opening anniversary date.

You may find the interest rates here.

Reward

Both parents and children are rewarded for regular saving behavior via standing order through the yellow Reward Program. Specifically, the account offers:

… to the kid

  • yellow welcome gifts* at the account opening date
… to the adult

  • yellows twice the amount saved up annually via the standing order, with a minimum of 500 yellows

For the yellows to be posted, 12 money transfers via standing order are required on an annual basis. Yellows are calculated and posted to the main beneficiary of the account on the account opening anniversary date and are available for redemption on the following business date (based on the Program’s terms and conditions).

* welcome gifts are offered until stock is exhausted

Additional Information

  • The amount of the monthly standing order varies from €20 to €500, based on how much you can afford.
  • In case the standing order is recalled within the first year from its activation, a charge is applied (based on the Piraeus Bank’s Price Bulletin).In each yellowkid Savings Account only one child is allowed as beneficiary.
  • In case the account no longer has a minor as beneficiary (e.g. the minor reaches the age of 18), it is automatically converted to a base saving account bearing the features of the new product.
  • Account’s transactions information is provided through a quarterly statement.

The above features and interest rates are valid for new accounts.

The product is offered according to the current restrictions on capital transfers.