Lito Savings Statement Account

Prepare for the future of your kids with a Lito Savings Statement Account, especially designed for children from birth till the age of 18.

Open a Lito Savings Statement Account and start saving today for big expenses such as college tuition, paying for driver’s license or even for their own first place.

Opening a Lito Savings Statement

Only parents and/or legal guardians that have an MCB account can open a Lito Savings Statement account for their kids;
Grandparents, other family members and friends cannot open a Lito Savings Statement account, but they can surely deposit on the Lito Savings Statement account opened by the parents of the child;
Maximum deposit amount per month is NAf. 250,-;
Once a year a maximum deposit amount of NAf. 1.000,- is allowed in connection with the child’s Birthday or special occasion;
Parents and/or legal guardians can open only one Lito Savings Statement account per child;
When opening a Lito Savings Statement account, parents can request access to MCB Online Banking, making it easier to view your child's Lito Savings Statement account.

Interest

The current interest rate for the Lito Savings Statement is Account is 3% (*NIR: 3%; **APY: 3.04%).
Check out important information on Personal Savings

Your child turns 18

Maduro & Curiel’s Bank will close the Lito Savings Statement Account in the month of January of the year after your child turns 18. The savings, including the base rate, will be transferred to a regular Maduro & Curiel’s Bank savings account in your child's name. Click here to read more about our savings accounts.
If your child does not have another Maduro & Curiel’s Bank savings account, we will open one for him or her.
Important note: When your child turns 18 only he or she will have access to and dispose of the funds.

Terms & Conditions

See Terms & Conditions

Investment

Once your child reaches the age of 18 years, he or she can make their money grow by making use of our investment services.
The minimum balance to invest is the equivalent to NAf. 10,000.- .
Please visit the Investment Portfolio for more information regarding our investment services.

Contact us

Banking