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Sunday, 20 July 2014

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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.

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