Just follow the following easy steps:
- Open a solidarity Savings Plan in your name (donator) at cmk and this account only works with your signature until the child is 18 years old.
- Designate a child beneficiary for the account
- Deposit any amount that you wish
- On the child’s 18th birthday, the account, with all the capital plus interest, will be automatically transferred to the child’s name.
Solidarity Savings Plan: Security, Simplicity, Earnings
- You remain in control of your account which cannot be withdrawn by the child’s family.
- At the end of the “Donation contract” retained by the cmk, the capital plus interest is automatically transferred to the child’s account on the 18th birthday.
- In case of death of the child beneficiary before the age of maturity, the account will remain in your name.
- You may cancel the Solidarity Saving Plan at any time before the maturity of the child and receive your savings without penalty.
For the Solidarity Savings Plan in favor of the child that you wish to support, cmk offers 4%* annual interest rate.
Open a SOLIDARITY SAVINGS PLAY to help assist a child’s future.
- To finance education
- To open a business
- To build a home
- To provide for medical expenses, etc.