Commercial Bank ‘Arunalu’ to reward high achievers at year five scholarship exam

The Commercial Bank of Ceylon has announced that it will once again reward high achievers at the forthcoming year five scholarship examination among its ‘Arunalu’ Children’s Savings Account holders.

The bank annually presents cash rewards of Rs. 10,000, Rs. 7,500 and Rs. 5,000 respectively, to Arunalu account holders who achieve the highest, second highest and third highest marks in their schools at this examination.

The bank also doubles the Arunalu account balance up to a maximum of Rs. 50,000, of any eligible account holder who achieves the highest marks in his or her district, at the year five scholarship examination.

Over the past seven years, Commercial Bank has paid out over Rs. 24 million in prizes to more than 2,000 Arunalu Children’s Savings Account holders who met the eligibility requirements.

The 2012 year five Scholarship examination is scheduled to be conducted on Sunday, 26 August, according to the Department of Examinations.

“The Arunalu Children’s Savings Account rewards academic excellence while inculcating and encouraging the savings habit among an impressionable and important customer segment,” said Commercial Bank’s Deputy General Manager Marketing Hasrath Munasinghe. “It has given us immeasurable pleasure to see thousands of children inspired by being recognised by the Arunalu scheme. Many of these young customers continue to be high achievers in school and outside, and the Bank is proud to celebrate their successes.”

In 2011, 365 students were rewarded with Rs. 3.2 million under the Arunalu scheme.

Arunalu accounts can be opened at any of Commercial Bank’s 220 branches or service points. A minimum account balance of Rs. 5,000 should be maintained on the date of the year five scholarship examination to be eligible for a prize.