People’s Bank to encourage saving among women through ‘Vanitha Vasana’ this Women’s Day

Playing multiple roles as a mother, a daughter, a friend, an employee or as a sister, women shoulder the burden of looking after the family as well as raising the economy of the country. In view of the invaluable services rendered by women People’s Bank has taken several initiatives to celebrate World Women’s Day which falls on 8 March to pay homage to women.

People’s Bank Deputy General Manager, Process Management, Quality Assurance and Retail Banking Renuka Jayasinghe said: “On World Women’s Day in 1993 People’s Bank introduced ‘Vanitha Vasana’ savings account for the thrifty Sri Lankan women to further their savings. ‘Vanitha Vasana’ is the first savings account introduced by a commercial bank especially for women. People’s Bank was able to encourage women to save as well as grant them loans to uplift the economy of the family and the country through the ‘Vanitha Vasana’ account.

“Our theme for this year’s World Women’s Day is ‘Saving with unwavering determination to face challenges Day and we are aiming to offer special benefits to all ‘Vanitha Vasana’ account holders. During the COVID-19 pandemic which prevailed last year, we had to face challenges we did not expect. The pandemic affected the society and the economy and women from all walks of life were vested with more responsibilities to manage their income and expenses.”

People’s Bank on behalf of World Women’s Day introduces Vanitha Vasana – Smart Ladies six months saving certificate. These certificates are worth Rs. 25,000, Rs. 50,000, Rs. 100,000 and 250,000. The specialty of these curated certificates is that the customers get a 30% bonus interest at the start.

Along with the Vanitha Vasana account, Vanitha Vasana Investment Planner account will also be introduced to help to uplift their economy. Customers can start their investment plans according to their personal savings goals for the end of the year. The Investment plans are worth Rs. 10,000, 25,000, 50,000, 100,000, 250,000 and Rs. 500,000.

In addition, a branded debit card will also be introduced to Vanitha Vasana account holders in line with Women’s Day.  This card enables customers to withdraw money, check bank balance and change pin numbers and pay utility bills and pawn installments using kiosks. 

Vanitha Vasana cardholders can also enjoy discounts during promotional periods while purchasing goods through digital banking. In addition, Vanitha Vasana account holders are also entitled to a 0.5% interest relief for People’s Bank Swarna Pradeepa pawning loans.

Well planned savings will lead to financial stability in the future. Especially in occasions of higher education opportunities, migration, self-employment, business purposes, unexpected emergencies or daily expenses in the family. 

The purpose of introducing People’s Bank’s Vanitha Vasana account is to encourage saving among women so they could face these situations without having to compromise the comforts in life. People’s Bank cordially invites all hopeful ladies to make most of this opportunity and make their dreams come true.