ComBank to reward Year 5 achievers

The bank will again reward students placed first, second or third at the national, district or school levels, through its three-tiered scholarships scheme implemented via the Arunalu Children's Savings Account.

Commercial Bank's Arunalu Savings Account will pay up to Rs. 382,500 to the top three scorers island-wide at this year's Year 5 Scholarship examination, due to be held in August, if they have Arunalu accounts in their names.

On this basis, the student or students placed first will each receive up to Rs. 170,000 in monthly instalments of Rs. 2,000 till the age of 18.

Similarly, students placed second in the island will receive up to Rs. 127,500 in monthly instalments of Rs. 1,500, while those placed third in the island will receive upto Rs. 85,000 in monthly instalments of Rs. 1,000 each, a Bank official said.

Additionally, Arunalu account holders ranked first in their respective districts at the examination will receive upto Rs. 50,000 if they are Arunalu account holders, and account holders who are placed first, second and third in their schools will receive cash prizes of Rs. 10,000, Rs. 7,500 and Rs. 5,000 each respectively.