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Sri Lanka’s largest scholarship programme HNB ‘Diri Daru’ rewards over 2,500 children

HNB ‘Diri Daru’, Sri Lanka’s largest scholarship programme, which presents cash prizes and scholarships to students who successfully pass the grade five scholarship exam and who have a HNB ‘Singithi’ account, rewarded over 2,500 students prizes exceeding Rs. 20 million in value, in its latest edition.

To be eligible to receive prizes and scholarships under the flagship national scholarship programme of Sri Lanka’s leading private bank, students with ‘Singithi’ accounts sitting for the grade five scholarship exam should maintain a minimum balance of Rs. 10,000. Any student who meets this criterion, and who achieves the cut-off mark, is entitled to a cash prize of Rs. 5,000, which will be doubled to Rs. 10,000 if there is a monthly standing order of a minimum of Rs. 500 in place for the account.

“This is the only programme in Sri Lanka to reward all student exceeding the cut-off mark, while meeting the minimum balance requirement,” HNB Chief Manager / Head of Deposits, Viranga Gamage said. “Hence, the Diri Daru scheme benefits thousands of Sri Lanka’s future leaders, each year. It also presents an opportunity for parents to start accumulating funds for their child’s future needs, educational and otherwise.”

HNB was Sri Lanka’s first bank to introduce a branded minor savings account in 1991. Commencing initially with scholarships to top performing students at the all island and district level, the bank has expanded its scholarship programs over the years to include high-achieving GCE and London O/L and A/L students and eventually to any grade five scholarship exam student who achieves the cut-off mark, while maintaining the minimum balance required.

The scholarship scheme extended to GCE and London O/L and A/L student will offer a cash prize of Rs. 25,000, if the HNB accountholder passes the exam successfully. HNB will also provide 100 O/L students and 50 A/L students the cash prize if an account balance of Rs. 25,000 and 35,000 is maintained.

Parents can open a Singithi Lama/HNB Teen Account on behalf of their child with a minimum initial deposit of Rs. 500.

HNB has utilised the Singithi and HNB Teen products to inculcate the savings habit and create interest on savings among young Sri Lankans, especially by linking savings to consistent and tangible rewards. Through this, the bank aims to enhance financial literacy among Sri Lanka's youth, which is critical for their future, while also providing them with valuable gifts.

HNB is a pioneer in minor savings, offering a comprehensive range of products designed to add value to its young customers. The ‘Singithi Kirikatiyo’ Account is specially 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 the bank will gift a free deposit of Rs. 1,000 at the time of opening the account. In addition, accountholders are entitled to special gifts on their birthday relative to the account balance maintained. On reaching five years, each account will be automatically converted to a HNB Singithi account and into a HNB Teen account at the age of 13.

With 254 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. The bank was ranked among the World Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine for five consecutive years and declared Best Sub-Custodian Bank in Sri Lanka at the Global Finance Awards 2020. HNB has a national rating of AA- (lka) by Fitch Ratings (Lanka) Ltd.