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First HFC Bank Baby Account Opened Under Govt Scheme

First HFC Bank Baby Account Opened Under Govt Scheme
Proud parents Tuberi Dauni and daughter Thea and Annalaini Dauni with four-day-old-son Leonardo.
August 11
11:13 2018

HFC Bank chief executive officer Rakesh Ram has congratulated its first customer, Usenia Tuivua, under the Government’s Parenthood Assistance Scheme.

Mr Ram warmly welcomed baby Kinijoji Joseph Lawaka Tuivua and his mother for being customers of the locally-owned bank.

Ms Tuivua was issued a confirmation letter from the Nausori Office of the Registrar of Births, Deaths and Marriages which has now fully endorsed her as a recipient of the $1000 grant.

A new baby account will be opened in the newborn baby’s name whilst the mother acts as the trustee.

First Saver Account can be opened in any HFC Bank branch or eLavo Agency outlet Fiji-wide.

Residing in Wainibuku Road, Ms Tuivua found it convenient to open baby Kinijoji’s account with the bank branch at Rups Mega Complex in Nakasi.

She said: “I opted for HFC Bank because it was 100 per cent locally-owned, easy, convenient and efficient service was an added bonus”.

HFC introduced it’s First Saver Account as part of Government’s healthcare initiative in the 2018-2019 National Budget for newborn babies, born on or after August 1, 2018, to encourage early childhood savings.

Mr Ram said: ‘The Bank will pay a high savings interest of 2.5 per cent per annum into the account and no fees will be charged on the account until the child is enrolled in Year 1.

“Once a ‘First Saver’ account is successfully opened, parents can continue to deposit money and enjoy the 2.5 per cent interest rate until the child enters year 1 of primary school.”

How to open HFC First Saver Account:

  • Births, Deaths and Marriages (BDM) office will issue both a birth certificate and TIN to the child, and to the mother (if required).
  • A signed application form, including the mother’s chosen bank, will be verified by the BDM office and ensures that the following necessary documents are included:
  • Child’s and mother’s TINs and birth certificates,
  •  The mother’s photo ID with residential address. Thereafter, a letter of approval will be issued by the BDM office confirming the account to be opened at HFC Bank.

The mother will submit the letter of approval with the necessary documentations (TINs, birth certificates and photo ID with residential address) to open a HFC Bank First Saver Account.

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