Star Account

Less frills, more substance

If you want to start saving for your children's future you may want to consider opening an APS Star Account. Getting started early is the best way to save for your childrens' future and get them off rolling when they are 18. The account holder will be the child however the account may not be accessed until the person is at least 16 years old. The account holder may decide to extend the account lifetime by an additional 2 years, closing the account by the time they are 18.

"Invest in your children's future.

Get them off to a flying start"

Star Account

Why open one account when you can have two?

Each parent/legal guardian can open one Account per child. Every child can have up to two Accounts. A maximum of €1,000 per annum can be deposited in each Account. Therefore, if an Account is opened and kept for 18 years, a maximum of €18,000 per Account can be saved.

Two additional years

Children's savings accounts are normally held till when the child reaches the age of 16 years. APS Star Account offers the possibility to keep the funds for an additional two years. This feature gives the opportunity to use the Account to save additional money and also to earn more interest on the accumulated funds. The Account Holder also has the possibility not to avail of the additional two years and close the Account once he/she reaches 16 years of age without incurring any penalties.

Once you have reached 18

When the Account Holder reaches 18 years of age, the Account will be automatically closed and the funds transferred to a savings account in the Account Holder's name. This savings account will be subject to the terms and conditions, including the interest rate, applicable to savings accounts at the time.

Opening an APS Star Account

The APS Star Account will be opened in the name of a minor, who is still under the age of 18. The Account can be opened by a Parent or Legal Guardian upon presentation of:

  • The Parent's / Legal Guardian's Identity Card
  • The minor's Birth Certificate issued by the public registry
  • The relative Court Decree [where applicable]

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APS Bank Ltd is licensed to undertake the Business of Banking and to conduct Investment Services business by the Malta Financial Services Authority and is enrolled in Tied Insurance Intermediaries List under the Insurance Intermediaries Act 2006