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 organized 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.