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Saving Account (Bara’em)
This type of accounts is specially tailored and designed for young children, in which we offer periodic interests on the balances of the account. This account was dedicated individually to all children from infant to age of 18 to offer the chance of saving for future. Parents are advised to open Bara’em Saving accounts for their kids and start savings to guarantee their future.
- Monthly interests applied and deposited to the account every midyear at the end of June & December.
- The possibility of making permanent transfer orders from parents account to their kid account in order to promote the kid account balance monthly.
- You can use our electronic banking services to review the account anytime from anywhere in which it saves your time and efforts.
Terms and Documents required to obtain the service:
- Parent should attend into the bank in order to open the account.
- The kid should be less than 18 years old.
- Providing the original ID of the kid’s parent (a valid electronic card).
- Foreigners should provide passport copies, residence card, and an official letter from the employer.
- Providing the family card or the kid’s certificate of birth.
- Providing 2 photos for the minor (infant) and his parents.
- Filling the account opening application form.
Yes he can, Bara’em Saving Account allows Trustees, Sponsors and charitable agencies to open the account according to the below terms:
- The original and valid identification of the trustee + a determination from court stating that he is the trustee of the child.
- Providing the child certificate of birth.
- Providing recent 2 photos of the kid and the trustee 6*4.
The minimum balance to open ‘Baraem saving account’ is YER 5,000 or equivalent to all other currencies.
Yes, you can make a payment transfer from your current account to the ‘Baraem saving account’ or the opposite through the permanent orders service or CAC Mobily service at anytime from anywhere.
You can review the account balances in ‘Braem saving account’ through CAC Mobily or CAC online at anytime from anywhere.
Yes, you can open ‘Baraem saving account’ in YER, USD, SAR, and EUR currencies.
Yes, there is a monthly interests applied for ‘Braem saving account’ deposit to the account every midyear at the end of June & December.