Because every wish list needs a plan
Product Overview
The Children’s Savings Planner is designed to help parents systematically save for their child's future, such as higher education or other significant expenses. This account encourages long-term savings through structured contributions, providing an effective way to accumulate a substantial savings pool over time.
Eligibility Criteria
- Age Requirement: 0-18 years of age.
- Residency: Must be a resident of Sri Lanka.
- Sri Lankan citizen employed abroad, resident outside Sri Lanka(Excluding emigrants)
Product Features
- Joint Accounts: Permitted with parent or guardian
- Maturity Date: Until minor reaches 18years/Any date between 1-18years(if matured before the minor turns 18years funds should be transferred to a Shilpa Childrens Savings Account)
- Due Date: One month from the opening date
- Mode of Communication: e statements
- Sweep In/Out: Not allowed
- Debit Cards: Not allowed
- Cheques or Payorders : Not Accepted
- Lump Sum Amount: A deposit of a lump sum is allowed subject to minimum of LKR 10,000/-.The lump sum and the first installment need to be deposited at the time of account opening