To guide your child each step of the way

The Arunalu Minors Savings Account helps you plan for each step of your child's future, from infancy to adulthood. As your child grows, so will the account.

To give your child the best education

At Commercial Bank, we believe in the importance of learning. By opening an Arunalu account and providing for your child's education, you can secure a brighter and more prosperous future for your precious child.

.....................................................................................................................................................................................

These are the Arunalu benefits

.....................................................................................................................................................................................

How to open an Arunalu Account ?

An initial deposit of Rs. 100/- is all you need to open an Arunalu Account. There are no limitations on subsequent deposits.

Drop in at a Branch or a Supermarket Banking Counter of the Commercial Bank most convenient to you and open an Arunalu Minors Savings Account for your child today. Remember to take a photocopy of the Birth Certificate* of the child and a photocopy of your (parent/guardian) National Identity Card, Driving License or Passport along.

If you are a Sri Lankan citizen residing outside Sri Lanka you may download an Application Form, complete and send it along with the required documents* to the Branch or a Supermarket Banking Counter of your choice.

If you are residing overseas the Birth Certificate should be produced upon return to Sri Lanka. Withdrawals will not be permitted unless the original Birth Certificate is submitted for verification.

Please note that this is done to identify the parties correctly and will be for your benefit.

.....................................................................................................................................................................................

Rules & Regulations | Download Application | Interest Rates | Tariffs | Request Information

^ Top

1. Business relating to Arunalu Minors Savings Accounts will be conducted by the Bank during normal business hours.
   
   
2. Arunalu Account will be an individual account in the name of the minor and not a joint account. The minor in whose name the account is opened, will be the beneficiary of the deposits made to the account.
   
   
3. Withdrawals will not be permitted under normal circumstances prior to minor attaining majority. Withdrawals will only be allowed at the discretion of the Bank for essential purposes of minor on the signature of the depositor.
   
   
4. The minimum deposit required to open an Arunalu Savings Account is Rs. 100/-.
   
   
5. Accounts which carry less than the required minimum balance of Rs. 100/- may be closed by the Bank.
   
   
6. Cheques / Drafts which are not drawn favouring the Bank and money orders etc., will be accepted to the credit of Arunalu Accounts only at the discretion of the Bank.
   
   
7. Interest will be calculated on the daily balance and credited monthly. The Bank reserves the right to withhold interest if the balance in account falls below the required minimum balance.
   
   
8. Each depositor will be issued with a pass book, the safety of which will be the depositor's responsibility. The Bank must be notified without delay if the Pass Book is lost, stolen or misplaced.
   
   
9. The amounts deposited and withdrawn will be recorded in the passbook by the Bank. Depositors should examine pass books carefully before leaving the Bank and satisfy themselves that the entries made therein are correct. Any discrepancy must be notified to the Bank immediately.
   
   
10. Upon minor attaining majority he/she should claim the balance after proving his/her identity to the satisfaction of the Bank. Where such balance is not claimed within two weeks, account will be converted to an ordinary Savings Account in the name of the beneficiary. Such converted accounts will be governed by the rules applicable to ordinary Savings Accounts.
    
    
11. If the Minor's Birth Certificate is not submitted at the time of opening the account, it should be produced at the time of claiming the balance.
    
    
12. The Bank will not accept or recognise trusts.
    
    
13. The nominee appointed by the depositor at the time of opening the account will be considered by the Bank as the depositor for all purposes in the event of original depositor's death, prior to minor attaining majority.
    
    
14. The Bank reserves to itself the right to alter or add to these rules at any time.