• Present the child’s Birth Certificate and your ID Card as parent, grandparent, or legal guardian of the child in whose name the Account is being opened.
• Open the account in the joint or separate names of the parents/grandparents/legal guardians and effect a minimum initial deposit of €2.00.

• Deposits can be made:
  • by the accountholder or by the minor if accompanied by parent, legal guardian or grandparent;
  • at any time during the term of the account;
  • up to any amount as long as total balance in account does not exceed €15,000 excluding interest.
• Withdrawals from the Account can only be made by the Account holder up to a maximum €25 every seven days. (Withdrawals that are not effected within the specified period cannot be carried forward to the next withdrawal. However, we understand that, in exceptional cases, you might need to withdraw more than the maximum permitted so additional funds can be made available in these cases subject to terms and conditions.
• Terminate the account 5 years after the account is opened or every 5 years thereafter or once the minor is 12 or 15 years old. The account is either automatically converted to a BOV Savings Named in € Account, or converted to an account of choice by the account holder.

As a BOV Young Saver, your child gets:

•  A membership card;
• A flexible savings account and higher rates of interest credited into the account annually on the 22^nd December
• Regular access to funds – deposits can be made at any time, and withdrawals of up to €25.00 per calendar week.
• Free piggy bank (until stocks last) when the account balance reaches €100

 And you may:

• Make an unlimited number of deposits up to a maximum account balance of €15,000, excluding interest.
• Withdraw up to €25.00 every 7 days
• Pay your Children's Allowance by direct credit into the BOV Young Savers account.

 So, the BOV Young Savers Account gives you these benefits:

• Flexibility of usage;
• Interest on daily balances is paid every 22nd December and a statement is issued every end of December;
• Added safety of keeping your cash in the Bank, and
• Payment of 15% FWT on interests earned (for Maltese residents)

Interest Rates

The interest rates currently applicable on a BOV Young Savers Account are available here.

Interest Rates may change after this product has been acquired and  peripheral products may incur their own rates. Please contact any BOV Branch or our BOV Customer Service Centre on 2131 2020 for additional information.

Fees and Charges

You may view the latest Tariff of Charges. Please also check out the Product Info Guide for the latest updated version of the Terms and Conditions for this account.

Fees and charges may change after this product has been acquired and peripheral products may incur their own costs. 

You may contact any BOV Branch or our BOV Customer Service Centre on 2131 2020 for additional information.