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‘Doo
Daru Ethera Isura’ foreign currency accounts for
kids from People’s Bank
State banking giant People’s Bank has introduced
yet another innovative product aimed at boosting the
savings culture of Sri Lanka and also providing a secure
future to our children, in celebration of World Children’s
Day. The ‘Doo Daru Ethera Isura’ Children’s
Account is especially designed for children whose parents/guardians
are employed in foreign countries. Parents/guardians
who are not near their children and who are constantly
concerned about the well being of their children can
now be at ease, knowing that their savings are directly
deposited under their child’s name in foreign currency
itself. Their future welfare is thus clearly ensured.
If the child is a minor residing outside Sri Lanka,
then the perfect option is a ‘Doo Daru Ethera Isura’
Minor NRFC savings or fixed deposit account. The ‘Doo
Daru Ethera Isura’ Minor RFC savings or a fixed
deposit account is for the child who is a resident of
Sri Lanka. These accounts come with an extra 1% added
to the prevailing interest rates for NRFC/RFC accounts.
The ‘Doo Daru Ethera Isura’ Children’s
Accounts can be opened in a foreign currency of choice
making your savings plan all the more convenient. Deposits
can be made in the form of inward remittances received
by way of telex/SWIFT transfers, foreign drafts or cheques,
foreign currency notes or travellers’ cheques brought
into Sri Lanka by the parents/guardians, and fund transfers
from the parents’/guardians’ foreign currency
accounts. The savings accounts can be opened with a
minimum deposit of USD25 or equivalent in any designated
foreign currency, while a fixed deposit account can
be opened with a minimum balance of USD1,000 or equivalent
in any designated foreign currency.
One of the key features of this account is that it is
an ideal method of saving for children, especially if
the parents who are earning foreign exchange intend
to educate their children abroad. Funds can be transferred
abroad for the foreign education purposes of their children
without any exchange control restrictions.
Through this new account scheme, parents/guardians who
are working in foreign countries can start saving directly,
secure in the knowledge that their savings are made
safer through the assurance that comes with saving in
a state organization trusted by over 10 million customers
island wide. People’s Bank clinched the coveted
‘Banking and Financial Services Brand of the Year’
award in both 2006 and 2007 at the People’s Awards
organised by the Sri Lanka Institute of Marketing and
world-renowned marketing research agency Nielsen. Furthermore,
People’s Bank was chosen the topmost brand with
the highest trade mark value within the banking category
and the fourth leading value-creating brand in Sri Lanka
in the Brand Finance’s compilation of the top 100
brands in Sri Lanka, as presented by LMD. Indeed the
Bank has truly won the hearts of the people.
As the Bank of the aspiring people of Sri Lanka, People’s
Bank looks into the financial needs of not just Sri
Lankans within the country, but those outside as well,
who earn foreign exchange essential for our country.
On this children’s day, People’s Bank is proud
to be helping them to save for their children, and taking
our future generations towards a brighter future.
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