In celebration of Avurudu this year HNB PLC announced the launch of the ‘Singithi Jumbo Avurudu’ campaign for its minor savers, with a wide range of exciting presents and gift vouchers.
Commencing from the 23rd of March until the 30th of April 2021, HNB is offering an array of benefits for all HNB Singithi and Teen account holders below 16 years of age.
“We’re extremely pleased to share the joy of Avurudu by supplementing our Singithi Savings scheme for our young savers. With these promotions, we’re able to encourage the youth on their path towards a financially secure future, while providing exciting gifts that will boost their academic journey. In the coming years, we’re hoping to look at expanding the scope of these schemes so we can continue supporting our young savers,” HNB Head of Deposits Viranga Gamage said.
In addition to encouraging the continuous academic progress of Singithi account holders, the bank also provides an exciting array of gifts for its young savers. These range from items such as pen-holders and caps for deposits of Rs. 5,000, to umbrellas or school bags for deposits of Rs. 10,000, to a whiteboard fully equipped with accessories for deposits of Rs. 25,000.
Additionally, Singithi savers who make deposits of Rs. 50,000 will receive either a sports bag or a voucher worth Rs. 1,500. HNB will also provide Singithi account holders with vouchers valued at Rs. 5,000 for deposits of Rs. 100,000, and Rs. 20,000 for deposits of Rs. 500,000. The vouchers can be redeemed at outlets of any of HNB’s partner merchants, including Abans, Arpico Supercentre, DSI, Mallika Hemachandra Jewellers, Nithyakalyani Jewellery, Stone ‘N’ String, Sarasavi Bookshop, Vijitha Yapa, and Zuzi.
In this manner, the bank aims to enhance financial literacy among Sri Lanka’s youth and provide the next generation with valuable gifts and a sense of responsibility for their savings accounts, which in turn will guarantee a stable and robust foundation for a bright future.
As the first to introduce a branded minor savings account in 1991, HNB is committed to protecting the interests of Singithi account holders. Consequently, working in partnership with HNB Assurance, the bank launched a special insurance scheme which will operate on standing orders issued from parents for Singithi and Teen savings accounts.
Notably, parents are only required to set up a standing order between a minimum of Rs. 1000 – Rs. 25,000 to avail themselves of the insurance facility, and no additional premium will be charged. Encouraging parents to establish consistent funding for their children’s savings accounts, the insurance scheme will guarantee that in the event of a parent’s demise – either a natural or accidental death – HNB will continue to fund monthly standing order to the child’s account. Customers with standing orders up to the value of Rs. 25,000 are eligible to receive this benefit from HNB free-of-charge.
In addition, since the inception of the Singithi account, HNB has embarked on numerous initiatives to encourage a savings habit among the student population by linking consistent saving to tangible rewards for the youth.
Along this vein, the Diru Daru scholarship programme was introduced to provide Singithi savers who passed the Grade 5 scholarship examination with cash prizes. The largest fund of its kind offered by any Sri Lankan bank, Diru Daru scholarships are also offered to GCE and London O/L and A/L students with Singithi accounts if account balances are maintained within a certain threshold. To be eligible for the scholarship, parents can open a Singithi Lama/HNB Teen account with a minimum deposit of Rs. 500.
HNB is a pioneer in minor savings, offering a comprehensive range of services designed to provide the most value to its youngest customers. The Singithi Kirikatiyo Account is designed for new-born children and can be opened by parents within three months from the child’s date of birth. The account offers one of the highest interest rates and will gift a free deposit of Rs. 1,000 at the time of opening. Additionally, Kirikatiyo account holders will be entitled to special gifts on their birthday relative to the balance maintained in their accounts. On reaching the age of five years, the account will be automatically converted to an HNB Singithi Lama account and then into an HNB Teen account at the age of 12+.
With 252 customer centres across the country, HNB is one of Sri Lanka’s largest, most technologically innovative banks, having won local and global recognition for its efforts to drive forward a new paradigm in digital banking. Over the recent past, the bank was ranked among the World Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine. HNB has a national rating of AA- (lka) by Fitch Ratings (Lanka) Ltd.
HNB was also declared Best Sub-Custodian Bank in Sri Lanka at the Global Finance Awards 2020, in addition to winning the coveted Best Retail Bank in Sri Lanka for the 11th time at the Asian Banker Awards 2020, in recognition of its sustainable growth and continuous improvements in processes, products and services amidst a challenging macroeconomic environment.