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ICICI Bank on Wednesday launched 'Young Stars', a savings account for children.
The Bank has tied up with Cartoon Network and signed on their toon stars Tom & Jerry as the brand ambassadors for this account.
The account allows children, up to the age of 18 years, to learn and manage their finances; while the account is operated and monitored completely by the parents. Children above the age of 7 years will get a personalised international debit card with the Young Stars account.
ICICI Bank has made the entire banking experience exciting by offering interesting facilities including a special recurring deposit, free international debit card and free Internet banking.
There are also facilities that only parents can access such as - online opening of fixed deposit, recurring deposit and funds transfer from parent to child's account.
"With this innovative product, the entire family is involved with the Bank and while parents can monitor their child's expenses, children learn to manage their expenses themselves," Chanda Kochhar, executive director, ICICI Bank said.
"This product will inculcate the habit of saving money amongst kids. We are delighted to be associated with Cartoon Network's toon stars, Tom & Jerry. With their support I'm sure 'Young Stars' will be become a popular product among children," she added.
Photograph: Jiggy George, director Cartoon Network Enterprise and Chanda Kochhar, Exec director ICICI Bank.