ComBank to reward new ‘Arunalu’ and Isuru’account holders

The Commercial Bank of Ceylon has announced that all customers who open new ‘Arunalu’ Children’s Savings Accounts or ‘Isuru’ Minors’ Savings Plans in April and May will be rewarded with a gift,adding further value to the benefits the accountholders will enjoy during and beyond their childhood.

The promotion for the Bank’s popular children’s accounts is intended to generate fresh interest in these savings options and to encourage parents to save for a better future for their offspring, the Bank said.

Children and parents who sign up for either of these savings accounts between April 1 and May 31 with an initial deposit of Rs 1,000 or more will have the choice of a gift of an eco-friendly and durable till made out of metal instead of the customary plastic, or a valuable book on how to raise toddlers in their first three years.

The handbook on raising toddlers is authored by Dr. Upali Marasinghe, a veterangynaecologist in Sri Lanka and is available in both Sinhala and Tamil, the Bank said.

The flagship children’s savings account of Commercial Bank, ‘Arunalu’ offers a higher interest rate for Children’s Savings Accounts and can be opened at any of Commercial Bank’s branches with a minimum deposit of Rs 100.

The Isuru Minors’ Savings Plan includes both a monthly deposit and a lump sum deposit scheme and guarantees amountsof up to Rs 6.5 million upon the child reaching 18 years of age.

In the event of the unfortunate demise of the depositor during the agreed period of deposit, the Bank will deposit the balance amount and assure the payment of the guaranteed amount when the child turns 18 years.

Arunalu and Isuru Minors Savings Account holders who maintain a minimum balance of Rs 5,000 in these accounts on the day of the Year 5 scholarship examinations, have passed the examination and are placed first, second and third in their schools receive cash prizes each respectively.