Bank of Ceylon Brings Children’s Day Celebrations to Vihara Maha Devi Children’s Park on 5TH October
Childhood is the best time in anyone’s life. It is the best time to mould a child to become a good citizen. Celebrating a day that brings “goodness of a Happy Childhood” is important in terms of shedding a light to some of the most important elements that constitute a happy childhood for very child.
Celebrating this year’s children’s day, Country’s No.1 Bank, Bank of Ceylon together with Sri Lanka Rupavahini Corporation will ensure that fun filled entertainment is provided to children at Vihara Maha Devi Children’s Park Town Hall on Saturday, 5th October 2019 throughout the day. A telecast of the program will be aired throughout the day on Rupavahini channel.
Every child deserves the necessary physical and mental protection and wellbeing to grow. Decisions parents make could decide what your child’s future direction might be. Therefore deciding on the right financial partner that helps you to build a sound financial background for your child’s future is crucial. With over 80 years of dedicated service to the nation Bank of Ceylon has set an unmatched record of being Sri Lanka’s No.1 Bank throughout these years and has provided a solid foundation for many generations.
Bank of Ceylon has an array of banking products and services in order to cater to the different needs of children. Ran Kekulu is a children’s savings account from Bank of Ceylon which is focused on building a secure future for the child. It offers a wide range of financial and non-financial benefits through Ran Kekulu accounts, which can be operated without any risk. This account provides an
additional 1% interest and offers the account holder hospitalization/ medical insurance charges up to Rs. 100,000/- that covers 10 critical illnesses. Further an 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 to a maximum of Rs. 1 million if he/she maintains multiple Ran Kekulu accounts depending on the account balance. Furthermore, 2,000 scholarships worth Rs. 15,000/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. (conditions apply).
“With the stability built over the years as a state owned Bank, BOC is the safest place for your hard earned money especially for a profitable long term investment for your child. Apart from BOC Ran Kekulu savings account with products such as BOC Power Plus parents/ Guardians can actually aim for a specifically targeted balance rather than saving randomly not knowing, what the final balance might be” stated the Deputy General Manager Sales and Channel Management Mr. C. Amarasinghe. BOC Power Plus investment plan offered to children of ages one to fifteen. There are four types of investment plans offered by the bank that gives Rs.500,000/, Rs.1 Million, Rs.2 Million and up to Rs.5 Million on maturity yielding an annual interest rate of 8% per annum over the entire investment period. The account will have to be maintained till the child reaches 18 years of age to obtain this benefit. The investment duration and the monthly installment will vary accordingly to the final amount selected and the age of the child at the starting point. However this investment plan will accommodate children who are younger than 15 years of age in order to meet the minimum investment period required. A parent, guardian or any other individual can open the account on behalf of the child. After opening the account all deposits can be made seamlessly by logging into the Bank’s online banking facility or through any of the available Cash Deposit Machines at anytime of the day or at any of the Bank’s 638 branches. Customers can also simply place a standing order covering the full investment duration to ensure a each required deposit is made to the beneficiary account from the depositors account at the proper time. Further information can be obtained through the Bank’s website, Facebook page, Youtube, through twitter or from the Bank’s Linkedin page and from the nearest BOC branch. In the case of no installment being made to the account either consecutively and/or intermittently the Bank will give a concession/grace period up to a maximum of 6 months and if the grace period is exceeded the outstanding will be transferred to a Ran Kekulu account under the name of the child.
14 Plus is another special savings account introduced for teenagers between the ages of 14-17. The account was designed to give users the first hand experience in managing the account and to draw attention away from unwanted spending sprees that are common to this age group. A voluntary savings of pocket money is encouraged here at an early age and account holders are entitled to a BOC Debit Card to access their accounts from ATM’S island wide. As the No.1 leading bank in Sri Lanka the Bank believes that it has a greater responsibility towards the country and it takes a special interest in empowering children of the country to face their future challenges and invites parents to invest and build a better future.