HNB launches ‘Singithi Kirikatiyo’ a Savings Scheme for New Born Babies
HNB has reintroduced the new born baby scheme with a number of new value additions. The new scheme "Singithi Kirikatiyo" will be a savings scheme for new born babies. The official launch took place at the Appollo Hospitals on 19th March 2008. The bank intends to take this scheme island wide to include all key hospitals and nursing homes by 25th March 2008.Under the "Singithi Kirikatiyo" savings scheme parents of new born babies are given the opportunity to open a "Singithi Kirikatiyo" account by depositing Rs 1,000/-. When doing so the bank inturn also gifts another Rs 1,000/- to the account. The scheme offers a number of unique and attractive benefits. In addition to the gift of Rs 1,000/- from the bank an attractive Baby Book is presented to the parents at the time of opening the account. In addition to this the baby will receive a complimentary gift pack from "Pears" at the time of opening the account.
The parents of the new born babies will be given a "Singithi Kirikatiyo" voucher at the time of the birth of their loved one which can be used within a period of 3 months after the birth of the baby along with a copy of the baby's birth certificate and presented to at any HNB customer Centre to open a "Singithi Kirikatiyo" account.
A special feature of this account is that for each birthday (up to the 5th birthday) the baby is rewarded with special gifts provided that a monthly deposit of Rs.1, 000/- is made by the parent on behalf of the child. These monthly deposits should be continued up to a period of five years, parents also have a choice of making lump sum payments on behalf of their child if they choose to do so . The gifts that the "Singithi Kirikatiyo" account holder will be entitled to, will include soft toys, barbie dolls, battery operated toys, school bags, caps and tricycles. The interest rate offered for the "Singithi Kirikatiyo" account is 3% above the normal savings interest rate.
HNB Singithi is the first branded financial services product in Sri Lanka The bank developed and branded this product after identifying the importance of inculcating the savings habit among young children. With this intention the HNB Singithi savings scheme was introduced in 1991. For the first time in Sri Lanka this minor savings scheme gave opportunity for parents to save for their kids Over a period of time the bank soon realized that accessibility to the product is important to further popularize the product and took steps to take the savings account to the very door step of the child. Today the bank operates more than 150 school banking units in the country. Going beyond the promoting of the savings habit the bank has provided opportunity for young children in schools to master the skills and knowledge of running a mini bank within the school premises. Today the bank has distributed more than 500,000 Jumbo tills among children in the country which act as mini banks to popularize the savings habit.
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