School Banking Saving Account

This scheme aims at inculcating the saving habit amongst the school children. Every child can open the account even by his pocket money. The bank keeps a box with Principal/Headmaster who receives and deposits the amount from the children and keep the amount in the box. The representative of the bank come on a particular day in a week and pays to the children if they want and takes the money of the box to the bank. A nominal Interest is paid on these accounts.
Note: Every kind of amount of Interest is Haraam for every person who takes that. According to Islam.