Citibank's new scheme for children

Mumbai: Citibank has launched a new scheme - Citibank Junior Package - aimed at children. The scheme provides for parents to help children in financial planning, provides health insurance and education cover and gives the child an opportunity to learn the basics of banking and money management.

The package offers a guardian savings account with personal accident and education cover, coupled with a child savings and investments services account. A Citibank Junior debit card with a monthly limit set by the guardian will also be provided.

The package comes with a free health insurance cover for the child up to Rs 1 lakh and education support for the child up to Rs one 1 per year for five years in the case of death of the guardian in an accident.

Says Citibank India global consumer bank head Sarvesh Sarup: The Citibank Junior package addresses the two critical segments through a unique combination of various product offerings, specially designed to fulfil the aspirations of both parents and children. This is literally taking banking to the next generation.