The NBG Children account has been designed to enable you to create a pool of money for any future needs of your children and comes with a range of flexible account management terms and privileges.
Principal beneficiary: Natural persons under 17 years old.
Co-beneficiaries: At least one parent or guardian is required for the account. A third adult of up to second-degree kinship (grandparent, adult sibling of the child) can also be designated as account co-beneficiary.
Each child is entitled to just one NBG Children account. Another child cannot be designated as a co-beneficiary of the account.
Minimum initial deposit: €50
Moreover, the NBG Children account offers:
- Returns on even the very first Euro deposited
- Scaled interest rate, linked to the ECB’s interest rate, thereby ensuring higher returns
- Interest posted every semester
- Easy pay-in of any amount, either through a single deposit or by regular payments on the basis of a standing order free of charge
- Deposits by third persons free of charge
- Withdrawal option
- Reward for deposits paid in the account regularly, equal to 20% of the average amount deposited per month (total deposits /12) and up to a maximum of €200 per calendar year, subject to the following conditions:
- at least one deposit, irrespective of amount, is made each month, and
- no withdrawal is made.
To determine the reward amount, and for the purpose of calculating the average monthly deposit amount, only a maximum monthly credit of up to €1,000 shall be taken into consideration. In addition, if the year is not a full calendar year, but only a fraction of a calendar year (i.e. at 31/12 a full year has not been completed since the deposit account was opened or, on the other hand, a full year has not been completed at the time the account expires) the amount of the reward shall be adjusted in line with the length of time the account was held during the year, expressed as a fraction thus: “Number of months of the account period/12”.
The amount of the respective reward shall be calculated and credited on the first business day of the following year.
If on 31 December of the year when the NBG Children account was opened a full year has not been completed, or if the account expires prior to 31 December, the calculations and the maximum subsidy amount shall be adjusted accordingly.
24hour banking service
- Access to NBG's i-bank Internet, Phone and Mobile Banking service.
- Easy, instant and secure account management and transactions via Internet, Phone and Mobile Banking, free of charge or at very low rates.
NBG credit cards
If you’re a co-beneficiary parent (or guardian) you can link your newly issued or existing VISA, Mastercard or gold Mastercard to this account and be reimbursed for 1% of the value of each purchase made with the card (maximum of €400 annually) to your child’s deposit account, as a reward for using the credit card, subject to the following conditions:
- The NBG Children deposit account is active
- The credit card is valid and duly repaid throughout the year.
Furthermore, the credit card is offered subscription-free for as long as the NBG Children account is held.
Notes on reward programmes:
- The Bank calculates reward amounts on an annual basis and credits them into the linked NBG Children account. Such amounts shall remain blocked in the NBG Children deposit account until its expiry, i.e. until the first business day of the month following the month in which the child-beneficiary comes of age, when the amounts shall be automatically released and the reward scheme shall cease to apply.
- In the event that the deposit account is closed prior to its expiry, any reward programme shall cease to apply and the total reward amounts gathered to that date shall be returned to the Bank.
Life and Health Protection Programmes
Option to participate in the following insurance programmes:
- Hospital Care health insurance programme for adults and children at favourable rates:
- Children: €141 annually
- Adults: €157 annually
- Vehicle Insurance Plan: Private Car and Private-use farm truck insurance plans are available with a 10%* discount on comprehensive premiums, for specific types of cover.
*The discount rate for new insurance policies to be put into effect and paid by 29/12/2017 stands at 16%.
The increased discount rate shall apply up to the first annual renewal of the insurance policy, regardless of whether premium payments are annual/ half-yearly/ quarterly. Following the first annual renewal, the discount rate shall switch back to the discount rate applicable prior to the present promotional action, i.e. 10%.
Rates & Charges
For information on interest rates and/or charges relating to NBG's deposits, click here.