A guaranteed return when the child turns 18 years of age.

1. What are the key benefits of the Isuru Minors’ Savings Plan?
   
• Ability to save for the child in a planned manner with a guaranteed return.
  
• Provides the highest return despite of the interest rate fluctuations in the banking industry.
• A unique entitlement certificate given at the time of opening the account with the guarantee that the Bank will pay the amount agreed when the child reaches 18 years.
  
2. What is the age eligibility of the child to be a beneficiary under an Isuru Minors’ Savings Plan?
   Monthly Deposit Scheme
   Any child from an infant to 10 years of age is eligible.
   
   Lump Sum Deposit Scheme
   Any child from an infant to 17 years of age is eligible.
   
   
3. Who can open an Isuru Minors’ Savings Plan on behalf of the child?
   Basically anyone. i.e. Parents, grandparents, aunts, uncles, relatives or guardian of the child can open an Isuru account. One can open Isuru account/s for their own child / children or any child of their choice.
   
   Age of the Depositor should be as follows:
   Monthly Deposit Scheme
   For a deposit period of 5 years – Between 18-55 years
   For a deposit period of 10 years – Between 18-45 years
   
   Lump sum Deposit Scheme
   Anyone above 18 years
   
   
4. What are the ways that a depositor can make deposits for Isuru Minors’ Savings Plan?
   There are two Deposit Schemes under ‘Isuru’ as follows:
   1) The Isuru Monthly Deposit Scheme : allows monthly deposits from Rs 500/- to Rs 20,000/- or any amount in between in multiples of Rs 500/-. Deposit periods available are 5 or 10 years.
   

   Agreed Monthly Deposit (Rs)	Period (Years)	Guaranteed Amount (Rs)**
   		If the initial deposit is commenced at
   		Birth	5th Birthday	10th Birthday
   500	5	121,887	77,849	49,722
   	10	199,735	127,571	-
   1,000	5	243,773	155,698	99,444
   	10	399,470	255,141	-
   5,000	5	1,218,861	778,486	497,219
   	10	1,997,347	1,275,705	-
   10,000	5	2,437,721	1,556,972	994,438
   	10	3,994,693	2,551,409	-
   20,000	5	4,875,442	3,113,944	1,988,875
   	10	7,989,385	5,102,818	-

   
   2) The Isuru Lump Sum Deposit Scheme: allows deposits as a single lump sum starting from Rs 5,000/-.  
   

   Lump sum Deposit (Rs)	Guaranteed Amount (Rs)**
   	If the initial deposit is commenced at
   	Birth	5th Birthday	10th Birthday
   5,000	25,114	16,040	10,245
   50,000	251,132	160,398	102,447
   100,000	502,264	320,796	204,893
   500,000	2,511,319	1,603,979	1,024,461
   1,000,000	5,022,638	3,207,958	2,048,922

   
   
   
5. What if the agreed deposits cannot be made to the Isuru Minors’ Savings Plan?
   In the event of the unfortunate demise of the depositor during the Agreed Period of Deposit under Monthly Deposit Scheme, the bank guarantees the payment of the initially agreed amount when the child turns 18 years.
   
   
6. Can the depositor or child withdraw money before child reaches 18 years?
   Premature withdrawals in Isuru are allowed only if it is for an emergency i.e. hospitalization (where documentary evidence is required) or for an educational purpose.
   
   
7. What are the documents required to open an account?
   1. Original Birth Certificate of the child.
   2. National Identity Card OR Valid Passport OR valid Driving License which carries the national identity card number of the parent or guardian.
   
   
8. Are there any Taxes applicable for Isuru Account?
   All payments made under Isuru scheme are subject to any tax laws applicable at the time of payment or release of funds to the beneficiary (the child).