BOC Nana Jaya Scholarships: Monthly bequest offered to youth to pursue higher education

Empowering Sri Lankan youth in pursuing their higher-education dreams, the Bank of Ceylon re-launches its scholarship program for A/L highflyers as “BOC Nana Jaya Scholarships” to support them financially with an endowment offered monthly. Education is the key to personal development that ultimately boosts the country’s potential to thrive socially and economically. With this very important task in mind, BOC formulated the “Nana Jaya” Scholarship awards to support deserving students in their higher education for a maximum time period possible. A total of Rs. 16.2 million for 2016 and Rs. 16.3 million for 2017 will be disbursed over 800 eligible students who have sat for A/L in 2016 and 2017 respectively.   

In combination with the country’s Premier Youth savings account “BOC 18 Plus”, this initiative has adapted a similar platform to that which the Government has laid to encourage higher education through “Mahapola” scholarship program. So that students will be assisted by the Bank to cover up their additional expenses up to four years – for merit scholarships and up to three years- for regular scholarships. Merit scholarships will be granted for Island best among the eligible students from Mathematics, Science, Commerce, Arts, Technology, Bio system technology, Engineering Technology and common streams. Merit scholarship holders will be awarded with Rs. 48,000 each and all others will receive scholarships worth of Rs. 36,000 each. This will be credited to their “18+ SmartGen” savings account as a monthly endowment to cover-up additional expenses that incur until they complete their higher-education. Students who have maintained Rs. 5,000 in their 18 Plus account from 1 January till 31 December 2016 and have got high Z-scores in the year 2016 are considered eligible to receive these scholarship awards on district basis. Similarly for students who have passed 2017 A/L examination with high Z-scores, maintaining a Rs. 10,000 from 1 January 2017 till 31 December 2017 are considered eligible to receive the scholarship. Selection for both types of scholarships will be based on the Z-score received by the student irrespective of state or any other university entrance.

Application forms can be down loaded through www.boc.lk and a specimen application is available in newspapers. For further information you may contact your nearest BOC branch. Completed applications should be sent by registered post to “Assistant General Manager, Marketing Division, Bank of Ceylon, 16th floor, Head Office, No.01, Bank of Ceylon Mawatha, Colombo 01”. You are kindly requested to mention “18 Plus Scholarship 2016” on the top left hand corner of the envelope.

Going forward from 2018, students who have sat for their A/L in the year 2018, can make themselves eligible to “BOC Nana Jaya Scholarships” by maintaining a minimum balance of Rs. 10,000 in their “18 Plus” savings account for six months from 1 August 2018 till 31 January 2019. 

Bringing the latest technology available in banking to add convenience, BOC opened a new phase of banking through digital transformation. As a result the bank has made its services available to customer through many unconventional modes such as social media and online modes. B-App, Smart Online Banking, Smart FD, Smart Passbooks, Apply Online Loan facility are some of the initiatives that assists customers to access the bank without having to visit a branch to get their banking needs fulfilled. Then, facilities such as BOC Digi, wide-spread ATM/CDM network – SmartZone and 24 hour banking counter at the Bank’s Head Office Personal branch ensures customers will have the access to seamless transactions throughout 24 hours a day. BOC believes that it has genuinely added value by these initiatives that empowered customers to carry out their banking anytime, anywhere whenever they need to. With the bank’s 24 hour available call centre on number 0112204444, anyone can reach the bank for urgent needs that requires special attention.

Bank of Ceylon’s “18 Plus” savings account is linked with the “SmartGen” facility and it is the fastest growing youth savings account in the country for its salient features that addresses need of convenience and speed of young generation. It offers No-pass book transaction facility, free online banking facility, Free SMS alert service on account transactions made to the account and free e-statement facility apart from attractive features that are offered by the “18 Plus” account. 

Customers are also eligible for an International Debit card that will be activated instantly upon opening the account. Existing especially for those within the age group of 18-25, “18 Plus” offers benefits that could be enjoyed even until the age of 35. This account carries a number of financial and non-financial benefits: A hospitalisation insurance cover to a maximum value Rs. 100,000 that covers 10 critical illnesses and a life insurance cover to a maximum value of Rs. 500,000. 

Account holders are also entitled to an additional interest of 0.5%, special loan scheme for the account holder based on their existing account balance, a special gift on their wedding day, They are also entitled for a free account for their first child from the bank with a complimentary cash deposit based on the 18 Plus account balance.