Gifts for August babies from Bank of Ceylon in celebration of 77th anniversary

In celebration of the bank’s 77th anniversary, Bankers to Nation – Bank of Ceylon will gift babies born in the month of August 2016 with cash rewards. This promotion is valid for babies born between 1 to 31 August. 

To be entitled to this gift scheme, a Ran Kekulu account should be opened for the new born by the parent or guardian on or before 31 October with an initial deposit of Rs. 1,000 or more. For every deposit from Rs. 1,000 to Rs. 2,499 a cash reward of Rs. 500 will be credited to the Ran Kekulu account. In the same way for a deposit from Rs. 2,500 to Rs. 4,999 a cash reward of Rs. 1,000 and for a deposit of Rs. 5,000 and above a cash reward of Rs. 2,500 will be offered accordingly. Deposits that are made to the account at multiple times till 31 October will receive the cash reward up to a maximum of Rs. 2,500 under this scheme.

This offer comes along with an array of benefits that are attached to the Ran Kekulu account. Ran Kekulu accounts always carry an additional 1% above the normal rate. This account is also linked with free life insurance cover for the parent or guardian to a maximum of Rs. 500,000 (minimum balance of Rs. 5,000 should be maintained for a period of six months or more prior to the incident). Any parent or guardian who opens Ran Kekulu accounts for more than one child will be covered up to a maximum of Rs. 1 million. The child will also get a free medical insurance cover up to Rs. 100,000 per annum in the event of an accident or 10 specified critical illnesses requiring hospitalisation in a private hospital (minimum balance of Rs. 5,000 should be maintained for a period of six months prior to the incident/illness). In case of being admitted to a government hospital the insurance cover would be Rs. 600 per day, for a maximum period of 30 days. 

The bank’s Ran Kekulu account also has a special scholarship scheme that is designed to encourage Grade 5 Year scholarship achievers which rewards Rs. 100,000 for the island 1st rank, Rs. 75,000 to the 2nd highest and Rs. 50,000 for the 3rd rank. There will also be a scholarship worth Rs. 15,000 for 2,000 students who have excelled in that examination.  

The Bank of Ceylon was named as the Strongest Bank in the country for the year 2015 by the prestigious ‘The Asian Banker’ and it earned global recognition as one of the top 1000 banks in the world, (Country rank No.1) as listed by ‘The Banker Magazine’ (UK) respectively in 2012, 2013, 2014, 2015 and 2016. The Bank of Ceylon won the overall Gold Award at the NBEA Awards Ceremony 2015 with five other ‘Winner’ awards. 

The bank claimed its award as the only Sri Lankan brand recognised as one of Asia’s Best Brands in 2013 by the Chief Marketing Officer’s Council (CMO Council) based in Mumbai, India. Brand Finance Lanka ranked Bank of Ceylon as the country’s No. 1 brand for the last eight consecutive years. The bank has passed exceptional milestones in recent years such as becoming the first to gain over Rs. 1.5 trillion assets and over Rs. 1 trillion deposits. 

Focusing on the bank’s achievement, Fitch Rating Lanka ranked the Bank of Ceylon at AA+(lka) which is the highest rating awarded to a local commercial bank and ICRA (lk) awarded AAA rating which is the highest credit quality rating issued by ICRA Lanka. Bank of Ceylon maintains international presence with three overseas branches and a subsidiary in London.