Enhanced Amana Bank Kids empowers savers

Amana Bank has introduced an enhanced range of children’s savings products under the banner of Amana Bank Kids. 

This initiative aims to instil the habit of saving in children from a very early age while setting the foundation for lifelong financial discipline.

Amana Bank Kids provides a variety of saving solutions, including dedicated savings accounts, term investment accounts and foreign currency accounts. The bank gifts a pre-loaded balance of Rs.1,000 to all new accounts opened for children aged two years and below, encouraging an early start to their savings journey.

As a measure to further promote consistent saving habits, the customers who automate a monthly deposit to the Amana Bank Kids account through a standing order will be rewarded with a gift deposit of 25 percent on the monthly deposit value quarterly. For instance, if a customer continuously deposits Rs.4,000 per month for three months through a standing order, the bank will make a gift deposit of Rs.1,000 to the account. The maximum gift deposit value per annum will be Rs.10,000. 

The bank also rewards the academic achievements of its young account holders, offering special rewards for high performers in the Grade 5 scholarship, O/Level and A/Level exams.

In addition to the savings accounts, Amana Bank Kids Term Investment Plan offers a long-term, secure savings solution specifically tailored for minors, empowering parents to create a solid foundation for their children’s future aspirations. 

Amana Bank Assistant Vice President Deposits and Digital Innovation Arshad Jamaldeen commented, “At Amana Bank, we are committed to nurturing the potential of tomorrow’s leaders. Through our Amana Bank Kids savings and investment solutions, we aim to empower parents with smart savings to secure a brighter future for their children, fostering financial responsibility and brightening children’s future from an early age.”