First Saver Account

A savings account designed to support the Fiji Government’s healthcare initiatives to encourage early childhood savings and applicable to newborn babies born on or after 01 August 2018 from families with an annual household income of $30,000 or less.

In line with the Government’s Parenthood Assistance Program, $1,000 will be deposited into the newborn’s account where $500 will be made available immediately and the remaining $500 can only be accessed when the child enters Year 1. This parenthood assistance allowance will be given irrespective of the number of newborn babies and the newborn baby should be registered under the Births, Deaths and Marriages (BDM) office. A new bank account will be opened in the newborn baby’s name whilst the mother will act as a trustee.

Features & Benefits

  • $1,000 minimum opening deposit
  • Additional deposits allowed
  • $500 minimum operating balance held in line with Governments initiative until the child enters Year 1
  • Interest rate of 2.5% p.a
  • Interest calculated on minimum monthly balance and credited to account on monthly basis
  • An account that grows with the child to meet their future monetary prospects
  • Six-monthly statements are provided: 30th June & 31st December
  • No monthly maintenance fees
  • No transactional fees
  • Free paper withdrawals

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