MBSL Savings Bank presents ‘Punchi Minor’ savings certificates for 1 January newborns

MBSL Savings Bank commenced the year by handing over ‘Punchi Minor’ savings certificates for the value of Rs. 10,000 each and a valuable gift to 20 children born on 1 January 2011 at the De Soysa Maternity Hospital in Colombo.

The savings certificate is aimed exclusively for children under 18 years and has high interest rates where the certificates can be encashed without any hassle at maturity. Designed to help every parent plan each step of their child’s future from infancy up to adulthood by providing them the financial security to ensure that they can be in a position to make their dreams and ambitions come true, the account also has competitions with exciting prize draws to help children save more.

The bank’s ‘Punchi Minor’ savings account, which can be opened for Rs. 100, consists of a host of benefits such as when the account balance reaches 20,000, the account holder gets a free children’s health policy, payments for hospitalisation, surgery or operations and connected expenses up to Rs. 50,000, Rs. 500 per day for room charges if the child is hospitalised in a paying ward and up to Rs. 1,500 per day for OPD treatment if injuries occur while at school.

The ‘Punchi Minor’ savings account has one of the highest interest rates offered by a minor savings account with bonus features such as a gift scheme that continues to reward your child with fabulous gifts that will be treasured by the kids. It also consists of an insurance policy covering healthcare and includes many other benefits.

Commenting on the emphasis placed by the bank on this event, MBSL Savings Bank Chairman M.R. Shah said: “With the dawn of the New Year, MBSL Savings Bank has demonstrated its national obligations by beginning the year with an activity giving 20 newborn babies ‘Punchi’ saving certificates for the value of Rs. 10,000 each, facilitating a good start in life. At MBSL Savings Bank we believe in inculcating the savings habits in people, which will in turn pave the pathway to economic development of the country at large. MBSL Savings Bank will conduct all its activities by operating in the most prudent and transparent manner, where all stakeholders of the bank from customers, shareholders and staff are benefitted. In fact, our vision for 2011 is ‘Sustainable Growth through Good Governance.’”

MBSL Savings Bank CEO Sujam Ratnayake said: “The future of a country lies in the hands of its children and the bank, since its inception, has been committed to empower children both economically and socially through its financial products and services .We believe in the importance of initiating parents to start saving for their child’s future and the ‘Punchi’ account can be the ultimate token of love and care that is gifted to your child to guarantee them with a secure future.”

The event was participated by both doctors and the nursing staff of De Soysa Maternity Hospital and a large number of the bank employees, who explained and educated the mothers on the benefits of saving for their children’s future.

Dr. Jagath Warusavithana of the De Soysa Maternity Hospital stated that “projects of this nature give a tremendous opportunity and initiative to the parents of these children, to aspire to give them a better future by commencing a savings account for them from the time of their birth”.  

MBSL Savings Bank believes in the sustainability of this project and will thus continue to focus and engage in similar initiatives, to achieve their goal of uplifting the lives of children in both urban and rural areas.