Commercial Bank’s Young Elite Savers Club, a “pioneering and innovative” banking members’ club for minors, has been launched with a day of fun activities at The St Regis Doha.
Described as a “first in Qatar” concept, the Young Elite Savers Club is open to new and existing customers of all nationalities aged 17 years or below.
“The club comes with a wide range of benefits, VIP experiences and privileges for members, while teaching them the value of saving. Additionally, parents benefit from the convenience of saving for their children’s future through the bank’s award-winning Regular Saver account, named ‘Deposit Product of the Year’ by Asian Banker Magazine, and from a wide range of discounts and deals offered by participating partners,” the bank said in a press statement.
To celebrate the club’s launch, Young Elite Savers and their parents enjoyed an “action-packed” day with a variety of entertainment provided by the club’s partners.
Among the host of activities on offer were face-painting, temporary hair colouring, a motor racing game, balloon twisting, painting sessions, a photo booth and cupcake decorating.
There was also a bouncy castle along with a soccer zone, badminton and mini-golf, as well as a cross-fit kids’ competition.
Free dental checkup and consultation with a paediatrician were also available.
Young Elite Savers Club members receive Commercial Bank’s “competitive” savings rates of up to 1.50% pa in their Regular Saver account and a personalised membership card, giving them access to a “world of tailored privileges.”
Club members have first-offer priorities on summer camp classes and scheduled workshops, extra sessions on courses provided by participating partners, up to three months’ free membership from selected partners, free trial periods at participating sports academies and exclusive invites to Commercial Bank kids’ events such as the launch day.
Joseph Abraham, Commercial Bank CEO, said: “This innovative event combined family fun for our customers and the socially responsible practice of encouraging kids to save for a sustainable future, to which Commercial Bank is deeply committed to teach younger generations.”
To become a club member, parents must open a Minor account (serving as a spending account with a debit card), and a Regular Saver account (serving as the saving account) under the child’s name.
Accounts must remain active and funded for minors to continue to receive benefits as members.
Club partners’ terms and conditions apply, and club members must present their membership card to avail the benefits.