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Arunalu Children's Savings Account

Because it is love
that you save for them

Realize your children's dreams by providing them financial security. The Arunalu Children's Savings Account helps you plan your child's future, from infancy to adulthood.



 

The Essentials

  • A higher interest rate than the rate offered for Regular Savings Accounts

  • Special cash prizes to the Arunalu Account Holders Who gained the 1st, 2nd and 3rd highest aggregate marks in the country at the Year 5 Scholarship Examination

  • Cash prizes of Rs 10,000/-, Rs 7,500/- and Rs 5,000/- respectively for account holders who have gained the 1st, 2nd and the 3rd  highest marks in each school

Arunalu is the perfect gift for your son, daughter, grandchildren, nephews and nieces

 

Benefits of Arunalu Account

Special cash prizes to the Arunalu Account Holders Who gained the 1st, 2nd and 3rd highest aggregate marks in the country at the Year 5 Scholarship Examination as given below:

    • Island Ranking 1 - A cash prize of Rs.200,000/-

    • Island Ranking 2 - A cash prize of Rs.150,000/-­

    • Island Ranking 3 - A cash prize of Rs.100,000/-­

A special cash prize of Rs. 50,000/-will be awarded to the Arunalu Account Holders who scores the highest aggregate marks in each district.

Cash prizes of Rs 10,000/-, Rs 7,500/-and Rs 5,000/-will be awarded to the Arunalu Account Holders who have gained the 1st, 2nd and the 3rd  highest marks in each school at the Year 5 Scholarship Examination.

Minimum balance of Rs. 5,000/- should be maintained in the Arunalu Account prior to the date of the Examination.

All new Arunalu Accounts opened with an initial deposit of Rs 1,000/- or above will be provided with a Beato till free of charge.

 

Account opening process

Any child from an infant to 18 years of age is eligible to open an Arunalu Account and obtain benefits from this Children's Savings Account. Interest will be credited monthly to the child’s account.

To open an account please collect an Arunalu Children's Savings Account opening form, from your nearest Commercial Bank branch or download it from this link, complete the form and hand it in with the original birth certificate of the child together with a photocopy. The original birth certificate will be returned to you.  Remember to take your National Identity Card, driving license or valid passport that contains your National Identity Card number. This is important for us to identify you and ensure your account’s security. 

 

Withdrawals

The total balance in the Arunalu Children's Savings Account can be withdrawn, on and after the 18th birthday of the child. It can also be transferred to one of our other deposit products such as Regular Savings Account, Power Bonus Account, Anagi Women’s Savings Account, Flash Digital Bank Account, Super Saver Account or a Fixed Deposit.

 

Terms & Conditions -Arunalu Children's Savings Account >>

 

Terms & Conditions apply
Product information and terms & conditions are subject to change from time to time.
Therefore, it is advisable to contact the branch nearest to you for the latest information and prevailing terms & conditions.

Interest Rates

Interest Rate ( p.a.) Annual Percentage Rate
Interest paid Monthly 4.000 4.070

Open an account

Who can open accounts

  • You can open accounts for children below the age of 18 years. 
  • Parents or the guardian of a child can open an account for the child

What you need to bring

  • Original birth certificate of the child together with a photocopy
  • National Identity Card, Driving License or Passport of the parent or the guardian 

How to apply

Download application form and submit the filled form to any Commercial Bank branch

Apply now

Download