To promote a sense of responsibility amongst young children, People’s Bank urged parents to open ‘Sisu Udana’ accounts at the beginning of the school term for their children. Branches island-wise saw parents opening their children’s first bank account in order to encourage the children to learn the importance of savings for their future.
For all Grade ones, When open a Sisu Udana Account ,People’s Bank will double your deposit (up to 500/-). In addition All new deposit of Rs 3000/- and above are entitled to receive a valuable Box of Trilingual Magnetic Letters as a gift. This offer will be valid until the 31st March 2016.
People’s Bank Sisu Udana account not only provides an attractive interest rates but also presents children with exciting valuble educational gifts and other offers as their savings grow. People’s Bank also takes steps to award account holding students who perform exceptionally at the Grade Five Scholarship exam, GCE O/L and A/L examinations with special scholarships.
Another key benefit of the Sisu Udana account is the ability to withdraw funds from the account at emergency situations such as for higher education and hospitalization. It is not required that the account holder be 18 years of age in such instances unlike other minor’s savings accounts. They can make monthly deposits to the child’s ‘Sisu Udana’ account as any other household commitment. By placing a standing order to support their busy life styles.
Parents who constantly strive to ensure a better future for their children have the ability of opening up a Sisu Udana account at any of the 740 plus People’s Bank branches and service points island wide. Further more parents can make deposits at the People’s Bank Sisu Udana Units that are placed within the school premises. People’s Mobile Banking and Internet Banking can also be used to make deposits to the Sisu Udana accounts from the comfort of your home.
Upon the account holder reaching the age of 18, a Sisu Udana account is automatically upgraded to a People’s Bank Yes account. Yes accounts also provide a high interest rate, and loans schemes to ensure the personal and professional growth of the young account holders.
A good child is a treasure for the entire nation. It is a parent’s responsibility to nurture such a child. A child who reaches the correct age and maturity level is then handed over to a school to build him up to be an intelligent and humble human being. People’s Bank invites parents to take steps to ensure that their children are taught the habit of saving and build a financially sound future for them in the New Year.