Banking Khabar / Nepal Rastra Bank has encouraged the opening of bank accounts in the names of children from an early age. According to the central bank, this initiative helps develop a habit of saving among children while also assisting parents and guardians in making financial plans for their children’s future.
The central bank stated that since there is no age limit for opening a bank account, children can be introduced to the banking system from a very young age. It is expected that this will enhance financial awareness in the long term and contribute to the development of a safe and sustainable savings culture.
Nepal Rastra Bank has made provisions allowing bank accounts to be opened in the name of minors at any bank or financial institution based on a birth registration certificate or a minor identity card. Until the minor legally reaches adulthood, the authority to operate the account will remain with the parent or legal guardian.
