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"ISURU" Monthly Deposit Scheme
"ISURU" is a short-term savings plan for children from a day old to 16 years of age. You have the option of saving for a period of 2,3,4 or 5 years.
The minimum monthly deposit is Rs.100/= or in multiples of Rs100/= up to a maximum of Rs.2,500/=.
The ready reckoner below indicates the guaranteed amount the child will receive upon reaching 18 years of age (provided savings commenced for a new born child within one month of the birth). The guaranteed amount will vary according to the age, agreed monthly deposit and the deposit period.
| Rs. 100/- |
2 |
Rs. 17,225/= |
| 3 |
Rs. 23,578/= |
4 |
Rs. 28,667/= |
5 |
Rs. 32,651/= |
| Rs. 1000/- |
2 |
Rs. 172,280/= |
3 |
Rs. 235,811/= |
4 |
Rs. 286,691/= |
5 |
Rs. 326,530/= |
Rs. 2,500/= |
2 |
Rs. 430,705/= |
3 |
Rs. 589,534/= |
4 |
Rs.716,732/= |
5 |
Rs. 816,329/= |
"ISURU" Lumpsum Deposit Scheme
You also have the option of making a single lump sum deposit, which will earn your child a bonus. A deposit of Rs. 10,000/= will bring the minor a certificate for over Rs. 85,000/= encashable upon reaching 18 years of age. Depositors have the option of making a deposit ranging from Rs. 1,000/= to Rs. 117,000/=(in multiples of Rs. 1,000/=) under this scheme.
| Rs. 1,000/= |
Rs. 8,578/= |
| Rs. 25,000/= |
Rs. 214,465/= |
| Rs. 100,000/= |
Rs. 857,860/= |
| Rs. 117,000/= |
Rs. 1,003,696/= |
The amount shown in 'Guaranteed Amount' columns above will vary depending on the child's age when you commence saving.
Based on the above table, you could decide on the amount your child will receive and agree to a Savings Plan that will achieve your target. Payment Assurance
What makes “ISURU” most unique is that the Entitlement Certificate issued by the Bank assures payment of the Guaranteed Amount of the minor upon reaching 18 years (even in the event of the depositor’s demise).
Simply complete and handover the “ISURU” Account Opening Form, with a copy of the minor’s Birth Certificate, to the Commercial Bank branch nearest to you.
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