Ensure your child's progress with the Bank of Ceylon

Childhood is the best time in anyone's life. It is the best time to mould a child to become a good citizen. Therefore it is a must that child receives the necessary physical and mental protection and wellbeing to grow. Decisions you 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 77 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.

"In line with the Bank's 77th anniversary we launched our newest "Power Plus" children's investment plan. This is an ideal solution that empowers growing children to bloom to their full potential in financially secured surroundings. 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. The uniqueness in this scheme is that parents 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. Senarath Bandara.

This newest investment plan offered to children of ages one to fifteen.

There are four types of investment plans offered by the bank from Rs.500,000/- and going to as Rs.1 million, Rs.2 million and up to Rs.5 Million as the return at the maturity which yields 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.