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.

View Q&A >>

"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.

"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.

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.

Rules & Regulations | Download Application |Tariffs | Request Information

^ Top

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.