Banif introduces new features to its New Generations Account

February 11, 2014
June 20, 2023
Banif introduces new features to its New Generations Account

Banif Bank (Malta) plc announced that it has revised its New Generations Account to better suit the needs of its clients. The New Generations Account is intended for parents, legal guardians and grandparents to put some money aside to help their little ones kick start their plans when they become of age. The account now allows account holders to lower their minimum annual deposit when opening more than one account.

Upon opening their first New Generations Account (NGA), account holders will also receive a free gift voucher which can be redeemed at My Toys, at PAVI Complex or at Toby Toy Master, in B’Kara. Alternatively, the client may opt for a cash voucher which can be deposited in the child’s account.

During the launch Caroline Gauci from the Business Development Unit at the Bank said, “the New Generations Account from Banif Bank is an ideal solution to start a savings plan which pays an advantageous interest rate while maintaining the flexibility to withdraw the funds at pre-set intervals. New Generation Account holders have to make minimum annual contribution of €300 or €120 for customers opening more than one account. The deposits can be spread out throughout the year according to the needs of the client. After 6 months from opening of the account, clients will also be eligible for a personal loan at a preferential rate for the sole purpose of assisting the child. Such a loan will also attract a reduced interest rate.”

More information about the New Generations Account from Banif Bank can be obtained by calling Customer Care on 2260 1000 or by sending an email to Alternatively one can visit any of the ten Banif Bank branches around Malta and Gozo.