Pan Asia Bank, which introduced a scholarship programme three years ago to recognize top performers at Year Five scholarship examination, recently enhanced that scheme in a bid to further encourage students to excel at this all-important examination.
Based on the revised scholarship scheme, the students who are placed among the top three island ranks will be rewarded with cash prizes Rs.100,000 Rs.75,000 and Rs.50,000, respectively. In addition, the students who are among the top five ranks in each district will be rewarded with Rs.10,000 each.
Pan Asia Bank DGM Marketing and Card Products Nalaka Wijayawardana commenting on the importance of providing students the necessary financial assistance to pursue their educational ambitions stated, “These scholarships, which were granted by the bank for the past few years, have paved the way for many deserving students across the country, particularly those from outstation areas, to pursue quality education and realize their true potential. I am confident that the new enhanced financial rewards programme will further strengthen this endeavour by enabling children to achieve their educational dreams.”
These scholarships are exclusively offered to children who have opened up a children’s savings account at Pan Asia Bank prior to the examination date. Pan Asia Bank currently offers two distinct value-added children’s saving account schemes namely Daskam and Mithuru. Pan Asia Bank’s Daskam children’s savings account offers an additional 10 percent deposit on top of each and every customer deposit until the child reaches the age of 12 and a high interest rate of 8 percent (8.33 percent A.E.R.) on the total balance, which is calculated daily and credit monthly. For an example, if a customer deposits Rs.100,000, the bank will deposit an additional Rs.10,000 or in other words, 10 percent of the customer deposit. Thereafter, as the account balance increases, the bank pays interest on the total balance of Rs.110,000. Pan Asia Bank’s other children’s savings account Mithuru offers valuable gifts designed especially for children to use in their day-to-day life.
Students who will be sitting for the examination in 2016 can open a Pan Asia Daskam or Mithuru account and maintain a minimum balance of Rs.1,000 and Rs.500, respectively to qualify for the scholarship rewards. The account should be opened before the scholarship exam, which is to be held in the month of August. New accounts can be opened with a minimum deposit of Rs.1,000 and Rs.500, respectively and be eligible for the scholarship scheme.