Usfoor Minor Savings Account
This is a unique savings account for minors that offers a good rate of return above the normal market rate. The profit is calculated monthly and credited into the account. The minimum investment required for such an account is Rs. 500/=. The money can be withdrawn by the parent or the legal guardian for education and hospitalization purposes. If the minor attains the age of maturity, the account will be converted to as normal Mudharabah Savings Account.