People's Bank presents scholarships to students

The People's Bank began inculcating the habit of saving among students in 1994 by introducing Sisu Udana Children's Savings Account.

Over the past two decades, the Sisu Udana Savings Account has grown from strength to strength with more than half of the nation's students' teaming up with this savings product.

In addition to offering an attractive interest rate, the Sisu Udana Savings Account has been designed to support the development of students and hence packed with an array of student-friendly features such as gifts and financial rewards.

The Bank offers scholarships to students who excel at the Grade five Scholarship, Ordinary Level and Advanced Level examinations through the Sisu Udana Savings Account.

The People's Bank will again reward students who are successful at the Grade 5 Scholarship examination by offering more than 7,500 scholarships.

Accordingly, any student who deposits Rs. 5,000 into a Sisu Udana account or opens a new account by depositing the said value on or before September 30, 2014 will be eligible to receive these attractive scholarships, provided he or she has been successful at the Grade five Scholarship examination.

In addition, students who are ranked first, second and third, islandwide will receive scholarships worth Rs. 100,000 Rs. 75,000 and Rs.50,000 while the top three students in each district are entitled to receive scholarships worth Rs.25,000, Rs.20,000 and Rs.15,000. The Bank also offers 1,000 ordinary scholarships valued at Rs. 5,000 each under the Sisu Udana account while students who have been successful as per the district-wise cut-off mark are also offered attractive gifts.

Any student who qualifies for these attractive benefits can simply visit the People's Bank branch where their Sisu Udana account is maintained and claim their prize by submitting proof of their results.