The "MuthuSina" Children's Savings account gives your child an excellent opportunity to learn the importance of saving money. Empower your kids tomorrow with a smile, Save and have valuable gifts. The "Muthusina" Minor Savings Account from SMIB is designed to encourage children's saving habits and provide attractive gifts.
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Features and Benefits
- Amazing gift scheme with an attractive interest rate of 5%
- Initial deposit of Rs. 500/- to start the account
- Receive gifts based on an account balance up to the age of 13 years
- Special rewards for the child’s performance at Grade 5 scholarship, G.C.E O/L, and A/L exams.
- An automatic conversion of the “Muthusina” account to a normal savings account soon after the child turns 18 years old.
Eligibility
- The account can be opened for children below the age of 18 by a parent or guardian (Sri Lankan citizen) over the age of 18.
**Accounts should be opened for children on or before they reach 13 years old to be eligible for the gift scheme.
Documents required
- A duly completed application form.
- Birth Certificate / Passport of the child.
- National Identity Card /Passport /Driving License or acceptable ID of parent/guardian/benefactor.
- Copy of a recent utility bill/bank statement to establish residence address.
