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Graduation account

Education is the key to secure your children’s future and fulfil their dreams

Securing children’s future with a safe investment is every parent’s ambition and mission. Always a step ahead of its customers’ needs and wishes, Boubyan bank is introducing the Graduation Account, a new innovative savings plan designed especially to encourage customers to save money for their children’s education. 

Boubyan’s graduation account is a unique reliable long-term investment covered by Boubyan Takaful insurance, and designed on a Mudaraba contract basis that secures rewarding profits.

Graduation Account Features

  • Full insurance coverage from Boubyan Takaful insurance company for the total target savings amount and period
  • The maturity date period ranges from 4 to 18 years
  • Flexible target savings amounts ranging from a minimum KD 10,000 and a maximum KD 250,000
  • High rate profits are generated on the savings and distributed upon the graduation account’s maturity
  • A fixed monthly installment is conveniently transferred from the customer’s current or savings account to the Graduation Account to reach the chosen target savings amount. 

Graduation Account Benefits

  • Flexibility to withdraw from the Graduation Account any amount at any time without closing it
  • Possibility to break the Graduation Account any time before maturity and refund the full accrued saved amount along with the profits in accordance with the applicable terms and conditions

Eligibility and Operation

  • Customers with a salary starting from KD 1,000 are entitled to open the Graduation Account.
  • At the time of the account opening, the parent should be aged 60 at the maximum and the beneficiary child should not be older than 14.
  • The Graduation Account will be opened under the beneficiary child’s name. 
  • The monthly installment amount will be deducted automatically from the customer’s account and transferred to the Graduation Account.
  • The installment amount is divided into two sub-amounts. The first will be transferred to the Graduation Account and the second will cover Boubyan Takaful premium.
  • Upon reaching the Graduation Account’s maturity, the customer will receive the principle amount of the deposit in addition to the accumulated profit as per the applicable terms and conditions.
  • When breaking the Graduation Account before the maturity date, the customer receives the full-accrued saved amount along with the profits as per the deposit conditions and based on the investment period.
  • The Graduation Account matures upon reaching the target amount or once the beneficiary child turns 18 years old.
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