BoC presents schools to Year Five students
The Bank of Ceylon's (BoC) Ran Kekulu, children's savings account
offers 2,000 scholarships, each worth Rs.10,000 to high flyers of the
Year Five scholarship examination 2014.
As a part of the its strategic Corporate Social Responsibility the
Bank of Ceylon conducts this annual program to support and encourage
schoolchildren to make an extra effort in their studies.
Maintaining a minimum balance of Rs. 2,500 in a Ran Kekulu account on
or before the date of the scholarship examination on August 17, fulfills
the eligibility to be considered for the scholarship.
As a part of this initiative, the Bank conducts the Hapana program
islandwide to coach students for the examination.
The program is conducted at provincial level with the assistance of
the Education Ministry. The 1,000th program was conducted in Eheliyagoda
recently.
The Bank of Ceylon maintains over 4,000 Ran Kekulu School Sansadha
(school savings units) in selected schools in all parts of the country.
The units are managed by the students with the help of the nearest BoC
branch.
The project aims at inculcating the savings habit among the younger
generation to build a sustainable thrift culture in Sri Lanka, through
BoC school savings units (Sansadha). Ran Kekulu accounts carry an
additional 1% above the normal interest rates. This account is also
linked with free life insurance cover for the parent or guardian up to a
maximum of Rs. 500,000.
Any parent or guardian who opens Ran Kekulu accounts for more than
one child will be covered up to a maximum of Rs. 1 million.
The child will also get a free medical insurance cover up to
Rs.100,000 per annum. |