Can a savings certificate be bought in the name of a minor child? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

Can a savings certificate be bought in the name of a minor child?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

Yes, certificates can be bought in the names of minors under the guardianship of the natural guardian (the father), and the minor may not break the certificate or borrow against it until reaching the age of majority (21 years), or by a decision of the guardianship court if the certificate is under the guardianship of the grandfather or the mother.

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