If you are looking for a savings plan for your child that guarantees a secure future, you'll find ISURU, the ideal savings instrument.

By the time your child is 18, he/she will receive upto Rs 1 million.

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Payment Assurance

What makes “ISURU” unique is the Entitlement Certificate issued by the Bank, which assures payment of the Guaranteed Amount despite any interest rate fluctuations or other unforeseen reasons (including depositor’s demise).

There are two deposit options available under Isuru, namely the Monthly Deposit Scheme and the Lump Sum Deposit Scheme.

"ISURU" Monthly Deposit Scheme

Under the Isuru Monthly Deposit Scheme you can deposit a selected amount from a minimum of Rs. 100/- to a maximum of Rs 2,500/- per month, or any amount in between that to suit your purse (in multiples of Rs. 100/-). The deposit period is also flexible which can be 2, 3, 4 or 5 years. Once you complete the Agreed Monthly Deposits within the agreed period, the Bank will issue the Entitlement Certificate.

"ISURU" Lumpsum Deposit Scheme

You will also have the option of making a single lump sum deposit, which will earn your child a bonus.. You can make deposits ranging from Rs. 1,000/- to Rs. 117,000/- (in multiples of Rs. 1,000/-) under this scheme. Upon making the deposit the Bank will issue the Entitlement Certificate for the full amount payable.
The 'Guaranteed Amount’ will vary depending on the amount of deposit and child's age when you commence saving.

Isuru Calculator By using this calculator, you can find out the ‘Guaranteed Amount’ your child would get. Simply key-in the child’s date of birth, desired amount and period of deposit and you will be able to view the Guaranteed Amount. You can compare the Guaranteed Amount your child would get by keying in different amounts and periods.

There are three options available; Monthly Deposit - here you can input the desired amount of monthly deposit and the desired period of deposit and view the resultant Guaranteed Amount Fixed Lump Sum deposit - the calculator will show the Guaranteed Amount based on the amount of Lump Sum you would make. Pre-determined Guaranteed Amount - if you want your child to get a specific amount (max Rs. 1.0 mn) you can use this option. It will show you the amount you should deposit today to get the desired Guaranteed Amount when the child reaches 18 years.

How to open an ISURU Account ?

Application forms for opening Isuru Minors Accounts can be collected from any Branch or a Supermarket Banking Counter of the Commercial Bank.

Simply complete and handover the Isuru Application Form, with a copy of the minor’s Birth Certificate*, to the Commercial Bank branch most convenient to you. Remember to take your National Identity Card or Passport along.

You can also download an Application Form, complete and send it along with the required documents to the Branch or Supermarket Banking Counter of your choice if you are not in a position to visit a branch.

* Whenever handing over applications personally, the original Birth Certificate of the minor together with a photocopy should be submitted (The original Birth Certificate would be returned). Otherwise a photocopy of the Birth Certificate should be attached to this application and the original should be produced by the beneficiary with the Entitlement Certificate at the time of claiming the Guaranteed Amount.

Rules & Regulations | Download Application |Tariffs | Request Information

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1. Business relating to ISURU Minors Savings Accounts will be conducted by the Bank during normal business hours.
   
   
2. The Depositor has to ensure that the Agreed Monthly Deposits [AMD] are made without interruption for the Agreed Period of Deposit [APD]. These deposits would be recorded in this passbook as and when it is submitted to the Bank for that purpose. No deposits would be accepted after the expiry of the APD.
   
   
3. Depositors should examine passbooks carefully before leaving the Bank and satisfy themselves that the entries made therein are correct. Any discrepancy must be notified to the Bank immediately.
   
   
4. The safety of the passbook is the responsibility of the Depositor. The loss of Passbook will have to be reported immediately to the account holding Branch.
   
   
5. Cheques / Drafts which are not drawn favouring the Bank and money orders etc., will be accepted to the credit of Isuru Minors Savings Accounts only at the discretion of the Bank.
   
   
6. At the end of the APD, the Depositor would be issued with an ENTITLEMENT CERTIFICATE, which enables the Beneficiary to claim the Guaranteed Sum from the Bank upon attaining the age of majority (18 years). It will be necessary to surrender this Passbook to the Bank before obtaining the ENTITLEMENT CERTIFICATE.
   
   
7. Under this scheme the Bank guarantees the payment of the agreed sum to the Beneficiary upon reaching the age of majority (18 years) subject to conditions stated on the Isuru application and monthly deposits are completed as agreed. The payment of the agreed sum will not be guaranteed, if the AMDs are not completed.
   
   
8. Death of the Depositor should be brought to the notice of the Bank with supporting documents by the personal representatives of the Depositor/Beneficiary.
   
   
9. If the Depositor fails to make the monthly deposits for three months (consecutive or cumulative), the undertaking given by the Bank on the Guaranteed Sum to the Beneficiary would cease. Thereafter, whatever balance lying would be converted to an ordinary Savings Account at the discretion of the Bank, which would not be released until the Beneficiary reaches the age of majority.
   
   
10. No withdrawals would be permitted during the APD.
    
    
11. Upon attaining the age of majority the Bank would pay the Guaranteed Sum (less any taxes) to the Beneficiary on the production of the Entitlement Certificate and an acceptable form of identification.
    
    
12. The operations of these accounts would also be subject to any rules and regulations pertaining to Ordinary Savings Accounts, which the Bank considers relevant. The Bank reserves to itself the right to alter or add to these rules at any time.