Baraem Savings Account
Big savings begin with small accounts
Account advantages
Calculate Return
Total Amount
$
Rate of return
%
Added Amount
Terms and Conditions
- A Photocopy of the customer’s ID or passport.
- A Photocopy of the child’s birth certificate.
Frequently Asked Questions (FAQs)
The first down-payment can be deposited upon opening the account and for one time with a maximum amount of $10,000, and this amount is subject to the annual return in accordance with the duration of the savings
Parents or guardians are able to follow up on the balances of their children’s accounts through the Banke mobile application and online banking
Bank of Palestine will send text messages to parents or guardians to remind them about due monthly payments
One of the benefits of this program is that Bank of Palestine guarantees to pay the value of the monthly installment or the value of the agreed-upon payment for up to 10 years on behalf of the child’s parent or guardian if they pass away.
If account holders wish to postpone payments during the grace period, they are required to pay the full amount of late installments and then continue with the program
Customers will enjoy a three-month grace period (non-transference of monthly deposits). In case the grace period is exceeded, customers will be required to pay late premiums in the form of one installment.
It is possible to decrease the value of the agreed-upon monthly deposit for one year. If customers wish to increase the amount of monthly deposits, they can only do so by the end of the year and take the return, with the possibility of re-applying for the program with the monthly deposit amount they choose.
If a customer wishes to withdraw from the program prior to the end of the agreed-upon one or more years, he/she will lose the amount of return that was part of the bank’s annual contribution and will retain the sum that was deposited in the account. If the customer was part of a two year program and wishes to withdraw after one and a half years, for example, he/she may do so but only retains the return on the first year, in addition to the saved sum.