Bank of Ceylon commemorates Children’s Day together with Elders’ Day - Digital equality for Children and Elders

Bank of Ceylon (BOC), the largest state-owned licensed commercial bank (LCB) the market leader in the financial services sector in Sri Lanka, and the highest rated bank internationally and domestically set forward with more rewarding financial services to both children and elders on 1st October 2021.

BOC strongly believe protecting children as the future of the country and the senior retired citizen as the members of the past generation who contributed immensely to the development of the economy.

Bank in their pursuit of recognizing elders and children as most valuable human aspects to a country step forward in recognizing them equally and decided to offer them some dedicated financial services.

“Digital equity for all ages” is the theme for 2021, international elders’ day which affirms the need for meaningful participation in the digital world by the elders. Rapid digital transformation typified by the fourth Industrial revolution saw exponential transformation in all section of societies. BOC as a progressive bank to the nation has recognized this and moving forward to provide up to date useable digitalize features to its elders as well as children.

A Long-standing corporate citizen of the nation BOC has endeavored this year with the timely message to the future generation of Sri Lanka by highlighting the importance of the habit of savings and the benefit of the same for the future.

‘Rise up to save for your future’ is the futuristic underlying message bank communicates to country’s children the future of the nation. Inculcating the habit of savings in a very young age could develop the savings habit and help to realize the far-reaching gains as they grow in stature as budding future investors or entrepreneurs.

Deputy General Manager Sales and Channel Management Mr. Priyal Silva while recognizing the importance of elders as well as children to the nation, mentioned “children are the future of a nation. BOC realize this beyond a social responsibility, but as an utmost duty towards the future of the mother land. Bank as a responsible corporate citizen over the years believe in grooming our children as more productive individuals and strong members of future corporate fraternity. With over 82 years of dedicated service to the nation, Bank of Ceylon has set an unmatched record of being Sri Lanka’s No.1 Bank throughout these years and has provided a solid foundation for many generations. With the stability of a state Bank, BOC is the safest option available for anyone to invest in order to secure their future”.

He noted one cannot neglect the elders who have devoted the best days of them towards the prosperity of the country while striving to accomplish their families’ aspirations. Bank believe they deserve a more glorified recognition. Driven by this aspiration BOC has launched a financial benefit service tailormade to suit them.

BOC Ran kekulu smart children’s savings account

‘Ran kekulu’ comes with many more benefits to the account holders. It goes beyond a normal savings account. Higher interest rate offered to the minimum balance, also comes with a built-in medical insurance cover to reimburse hospital and OPD expenses, add in life cover for the account opening parent / or guardian. Grade 5 scholarship winning account holder could win a grant for further studies. The account accommodates a specially designed easy to use electronic card, and a smart passbook for easy reference of account balance and the accrued interest with the transaction’s history. The SMS alerts provided free of charge.

BOC drive along with digital banking with a keen interest on providing its features that add more convenience and value to all customers equally irrespective of their age.

Ease of opening an account is unique as with in all BOC accounts. Any parent/ guardian can open the account for a child who is a resident of Sri Lanka and below 18 years of age. This also offers opportunity for a knowledgeable minor who is between 16 and 18 years of age to open an account by themselves, without parent or guardian signature. In the event of a child reaching 18 years of age the account will be automatically transferred to a normal savings account without child wanting to visit the bank for that purpose. As a pioneer in digital banking in Sri Lanka BOC provides many digitalize features to the Ran Kekulu children’s savings account (conditions apply).

Bank has always been customer centric and provide for their convenience, account holder can call the hot line 1975 for any assistance and information or visit any branch which is near to them.

BOC Abimana senior citizen loan scheme.

A novel savings account and Fixed deposit scheme launched by BOC, comes with a Debit card, and internet banking facility. Furthermore, special introductory loan scheme is available for senior citizen, retired government servants.

BOC Abimana loan scheme designed to harness entrepreneurial requirement of the retired government servants who have rendered yeoman services to the country during their active service days. The upper age limit to obtain this facility is 75 years with maximum 15 years repayment period. Attractive interest rate with minimum documentation makes this much more attractive to retired seniors.

BOC envisioned on the lasting wellbeing of retired government servants has come with this financial schemes, not merely as loans but as more of an investment scheme to encourage them to make use of their experience and actively participate once again towards economic development.