Secure the “family that protects you” with BOC

A child’s world is delightful with the loving care and protection of the child’s family that surrounds the child and of other adults who protect and guide the child through life.

This year’s theme for World Children’s Day is, “The family protects you”. Today’s children have to be protected as never before. This is because the development of a child’s physical and mental health begins with the family. A child’s basic needs such as food, clothing, shelter and health requirements for the future are provided by adults. As we observe World Children’s Day today commemor at i n g Wo rl d Adults Day at the same time is opportune, when considering these factors.

A family unit is a community of people who live together. All tasks which devolve on the family have a bearing on its members. The responsibility lies with the adults. Adults move outside the family unit to engage in activities with society and other groups to better their children’s future. These actions are motivated by love and kindness and are directed towards a child’s education, to develop a healthy body and mind and to secure their future well-being.

Over the past 75 years Bank of Ceylon has incorporated the development of the entire family from children to adults into its product and service offerings. In accordance with the theme, “The family protects you,” the Bank of Ceylon has paved the way to ease this burden of responsibility for all adults, who have to nurture their young.

Ran Kekulu is a children’s savings account from Bank of Ceylon which is focused in improving a child’s current and future security. It offers the widest range of benefits among children’s accounts. Parents can get a number of financial and nonfinancial benefits through Ran Kekulu accounts, which can be operated without any risk. This account presents an additional 1% interest and offers the account holder hospitalization/ medical insurance charges up to Rs. 100,000/- that covers 10 critical illnesses. A further, insurance cover is available for the depositor who opens the account up to a maximum of Rs 500,000/-. The depositor becomes eligible for an insurance cover maximum of Rs. 1 million if he/she maintains multiple Ran Kekulu accounts depending on the account balance. Furthermore, 2,000 scholarships worth Rs. 10,000/- each are granted annually to Ran Kekulu account holders that emerge successful at the grade 5 scholarship examination. A minimum balance of Rs. 5,000/- maintained in a Ran Kekulu account qualifies the account holder for most of the privileges mentioned here.

Bank of Ceylon also maintains students’ savings units at schools. Ran Kekulu Sansada, BOC’s school savings units help students to save their pocket money at school level. Ran Kekulu Sansada is a bank’s mini model branch at school. Ran Kekulu Sansada helps students by exposing them to banking experiences from their childhood while establishing the savings habit in their mindset. BOC operates over 3500 school savings units at present.

18plus account of BOC targets youth that take an active stance in planning for their future development. Existing especially for those within the age group of 18-25, it offers benefits that could be enjoyed even until the age of 35. This account carries a number of financial and nonfinancial benefits: a medical insurance cover to the maximum value Rs. 100,000/- that covers 10 critical illnesses and a life insurance cover to a maximum value of Rs.

500,000/- that increases up to 10 times the value of the minimum balance maintained. Account holders are also entitled to an additional interest of 0.5%, internet and SMS banking; debit cards for shopping and ATM withdrawals, instant loans up to 90% of the account balance, scholarships and concessionary opening of a Ran Kekulu Children’s Account with just Rs. 500/- for the first baby.

For the senior citizens, BOC has introduced the “Senior Citizens” Savings Account and “The Senior Citizens Fixed Deposits” with higher interest rates. The Bank of Ceylon provides additional 1% interest for senior citizen accounts. They are also entitled for an ATM/ debit card to withdraw money around the clock.

Through its special accounts Bank of Ceylon has served the most important unit in society, the family, guiding it in providing a righteous and safe path to secure their future.

You could celebrate the world children’s day and elder’s day by opening a Ran Kekulu Account for your child or open a senior citizen account for your parents with Bank of Ceylon.