Bank of Ceylon calls for applications for Grade 5 Scholarship Awards 2018

Continuing with its endeavour to encourage students who excelled in Grade 5 Scholarship examination 2018 the Bank of Ceylon is now calling applications for its annual ‘Ran Kekulu Scholarships Awards’ from students who sat for the said examination in 2018. 

The program began in 2002 as a part of the bank’s Corporate Social Sustainability programs to uplift the status of the country’s education. Maintaining a minimum balance of Rs. 5,000 in the Ran Kekulu account a day prior to the day the examination results are released and who obtained the highest marks at the grade 5 scholarship examination will be considered as eligible to be among the 2,000 students of the 2018 Ran Kekulu scholarship grant which is Rs. 15,000. All other BOC Ran Kekulu account holders who have passed the 2018 Scholarship examination will be awarded a valuable gift provided they too have maintained a Ran Kekulu account which was remained active a day before the release of examination results. The Bank has already rewarded the top most performers – those students who achieved island 1st, 2nd and 3rd place from the 2018 Grade 5 Scholarship examination with Rs. 150,000, Rs. 100,000 and Rs. 75,000 respectively. A special feature added last year to the Strategic CSR initiatives will also be continued – the bank will show its appreciation of the courage and dedication shown by differently abled students this year too. BOC Ran Kekulu Grade 5 Scholarships will be awarded to selected differently abled students who have scored above the district cut-off mark based on the confirmation given by the Department of Examination. 

100 PFCA Minor (Personal Foreign Currency Accounts for Minors) account holders with BOC will be chosen from those who have fulfilled the eligibility requirement of passing the cut-off mark at the 2018 grade 5 scholarships examination and have maintained a minimum balance of USD 250/- or equivalent in other foreign currency for a period of six months prior to the day of the examination that fell on 5 August 2018 will receive a scholarship worth Rs. 25,000 each. 

A specimen application and the eligibility criteria of the said scholarship scheme will be published in Sinhala, Tamil and English newspapers. The application can also be downloaded from the Bank’s website www.boc.lk and Facebook page. The Bank request all eligible Ran Kekulu account holders to submit their applications before the deadline – 27 November 2018 to the nearest branch.

BOC Ran Kekulu, children’s savings account offers the widest range of benefits among children’s savings accounts. Out of an array of banking products and services, Bank of Ceylon offers its Ran Kekulu account with an additional interest rate of 1%. 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 to be maintained for a period of six months prior to the incident). Any parent or guardian who has opened BOC Ran Kekulu accounts for more than one child will be covered up to a maximum of Rs. 1.0 million. The child will also get a free medical insurance cover up to Rs. 100,000 per-annum in case of an accident or in the case of specified 10 critical illnesses requiring hospitalisation in a private hospital for more than one night or in the case of same situation where hospitalisation was made in a Government hospital requiring three nights stay, will receive Rs. 600 per day up to a maximum of 30 days only (conditions apply).