List of Kiddie Account For You Kids

Why open an account for your child? Its best to start while children are young because they are like wet cement, whatever falls on them makes an impression. If they are only taught to spend, they will grow up to be spenders. But if they are taught how to save, then they will grow up to be savers.

Here are the list of kiddie account you can choose from:

BANK OF THE PHILIPPINE ISLANDS(BPI)

Jumpstart Savings

Target Age: 10 to 17 years old

Required Initial Deposit: P500

Interest Rate (per annum): 0.5% for BPI, 0.625% for BPI Family Savings Bank

Added Perks: An ATM savings account that allows parents to transfer money from their account to their child's(think: automated allowance!). Children can also shop in select stores without cash, and reload their cellphones via BPI Express Teller ATMs.

BANCO DE ORO(BDO)

Junior Savers Club

Target Age: 12 years and below

Required Initial Deposit: P500

Interest Rate (per annum): 0.5%

Added Perks: Passbook and ATM card for those seven years old and above, and special discounts as SM Department Store.

Power Teens Club

Target Age: 12 to 19 years old

Required Initial Deposit: P2,000

Interest Rate (per annum): 0.5%

Added Perks: Passbook and ATM card and special discounts as SM Department Store.

METROBANK

Fun Savers Club

Target Age: 18 years and below

Required Initial Deposit: P500

Interest Rate (per annum): 0.5%

Added Perks: A 50,000 educational trust fund, free personal accident insurance, and exclusive discounts and privileges from partner establishments. It also allows others to deposit into the account using Fun Savers Club Gift Checks, as a perfect gift alternative for any occasion.

RCBC

W.I.S.E. (Wise Investors Save Early) Account

Target Age: 7 to 14 years old (For Children below 7, an In-Trust-For [ITF] account can be opened.)

Required Initial Deposit: P500 (P1,000 to avail of free insurance)

Interest Rate (per annum): 0.5% once am average daily balance of P5,000 is reached

Added Perks: Free personal accident insurance for the child and parent for one year.

DEVELOPMENT BANK OF THE PHILIPPINES

Youth Savings Account

Target Age: up to 14 years old

Required Initial Deposit: P1,000

Interest Rate (per annum): 1%

EQUICOM SAVINGS

Kiddie Builders Account

Target Age: 13 years and below

Required Initial Deposit: P1,000

Interest Rate (per annum): 1%

Added Perks: Free dental benefits from the Kiddie Care Club, plus free fun blocks

Helpful Tips to teach your Child to Manage Money

Well, Its never to early to teach your child the value of money, here are some practical tips on teaching your child to manage his own money.

• Money Jars. Divide clear jars (since kids are visual) for different purposes, such as short term (weekly) and long term (money you can physically put in the bank) purposes. Discuss with your child what these are for and how the money saved will benefit him int the future.

• Have a field trip to the bank. Bring him along when you deposit his money so he has a concept of saving, and explain where the money will go to, say for his college tuition or birthday party.

• Chores. Encourage regular age appropriate chores (packing away of toys, setting the table, etc.) something your child can do well without Yaya's help. Let him earn his money.

• Money monitoring. Ask your child to write down in a small notebook all his expenses. This way, you can monitor how responsible your child is and what his needs are.