Children's
Accounts

ISURU UDANA

Isuru Udana is a children's savings account designed especially for children from birth to 5 years of age. An account can be opened at any People’s Bank branch Island-wide, with a minimum deposit of Rs.100/-. The Bank will deposit the initial deposit to open the account for children from birth up to the age of attending preschool, and Rs.250/- for children who are already attending preschool.
The unique features of this account are the "Isuru Udana" gift voucher, and the child development and educational value gifts on offer. Gift vouchers can be purchased over the counter at any People’s Bank branch, in denominations of Rs.200, Rs.500, Rs.1,000, Rs.2,000, Rs.5,000 & Rs.10,000 from which you can open an Isuru Udana account, or credit the voucher to an existing Isuru Udana account.
The Isuru Udana Savings Account will be automatically converted to a Sisu Udana Savings Account when your child reaches the age of 6 years.

Sisu Udana

Sisu Udana Children's Savings Account aims to provide every child with a bright future by encouraging excellence, and cultivating the habit of saving. If your child does not have an existing account, the bank will deposit the initial Rs.250/- to open the account on behalf of your child, so that they can start saving and enjoy the range of benefits on offer. You can open a Sisu Udana Savings Account at any of our branches Island-wide.
As a result of our expansion process, most schools across the Island already have their very own Sisu Udana Savings Unit, where the banking activities are carried out by the children themselves. This not only gives them encouragement to save but also promotes the banking experience to children at a very young age. A child is able to go to one of these Savings Units at their school and open a Sisu Udana savings account. Thereafter, they can deposit money into their account at any time they want. Alternatively, you, the parent or the guardian can visit the nearest People's Bank branch and open a Sisu Udana savings account for your child.
If your child has an existing "Sisu Udana" account, it will be automatically converted to a ‘YES’ account at the age of 18.