Standard Chartered Bank has introduced a new account called Junior Millionaire Account that will serve the needs of children in Zambia.

Head of Consumer Banking in Zambia, Ralph Watungwa, who officiated at the launch of the new account at the head office, said his Bank is committed to providing simplified products that will help customers meet their ambitions.

Mr. Watungwa said the Junior Millionaire Account is a savings account targeted for persons below the age of 18 years to enable parents save for their children to pay school fees, medical bills, to start investment funds, among other features.

Mr. Watungwa said the Junior Millionaire Account is in line with the Bank’s strategy to foster its long standing partnership with the youth.

He added that the product offers one of the highest interest rates in the market to ensure that children achieve their dreams.

He further explained that the introduction of the unique product will open an opportunity for greater nationwide cooperation between the Bank, Schools, Government, parents or guardians and the community.

ZANIS/PM/ENDS/MM.

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17 COMMENTS

  1. Ati Junior finshi? Kwena ndiye ma setting aya. Kapena Temwani Bwezani Banda will afford, kaya.

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  2. Good, i will come and open up an acount, GUYS, this is an account that has long term benefits for children, its like a savings/investments account, you need not touch it, just register it ina childs name and make a fixed debit order for it. I feel all parents that are able to spare even a R100/50pin per month should have such accounts.

    Ola!

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  3. This is truly an impressive initiative in terms of Standard Chartered Bank being dynamic with the needs of time that moves.

    However, on “Mr. Watungwa said the Junior Millionaire Account is a savings account targeted for persons below the age of 18 years to enable parents save for their children to pay school fees, medical bills, to start investment funds, among other features”; I believe that Medical Insurance policies would provide far much benefit to Zambians than just looking up to a bank account helping to pay medical bills.

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  4. This is a good development, though its been there in Zambia through the post office. Its more convienient so that a child can be taught how to save money and it will make them feel great. This will help the children visualise themselves as future millionaires/bilionaires.

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  5. “He further explained that the introduction of the unique product will open an opportunity for greater nationwide cooperation between the Bank, Schools, Government, parents or guardians and the community”.

    Can somebody please break the above quotation for me?Otherwise i smell a rat here.

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  6. Anyway, there’s somehow sense mulififine guys. Although as Maestro fimofimo said,Medical bills are better dealt with by Insurance. It’s ok ba Stanchart, but don’t come up with tuma fake charges ngatwaiswila abana.

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  7. It’s a good initiative but is it worth it calling someone in Zambia a millionaire these days,almost everyone is a millionaire.

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  8. I don’t understand what they mean by this kind of service. Standard chartered bank’s services have gone down as compared to other banks that have been here for a long time. It looks like they are not moving with time or simply relying on past glory. For example their ATM service on the copperbelt is pathetic. You don’t expect to have only one ATM in big cities like Kitwe, Ndola, Chingola and you’re not guaranteed to find it working. I think they need to improve on the aspect of customer satisfaction before introducing/hiding in services that have no value.

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  9. Thanks a bunch for sharing this with all of us you really know what you’re speaking approximately! Bookmarked. Please also seek advice from my web site =). We will have a link trade arrangement among us

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