Highlights

A higher interest rate will be offered for your child than the rate offered for Regular Savings Accounts.
Account holders will receive special cash prizes if they score 1st, 2nd and 3rd highest aggregate marks in the school at Year 5 Scholarship Examination.

Features

Cash prizes of Rs 10,000/-, Rs 7,500/-and Rs 5,000/-will be awarded to the Arunalu Account Holders who have gained the 1st, 2nd and the 3rd highest marks in each school at the Year 5 Scholarship Examination.

Minimum balance of Rs. 5,000/- should be maintained in the Arunalu Account prior to the date of releasing examination results.

Interest rates

	Interest Rate (p.a.)	Annual Effective Rate
Interest paid Monthly	4.00	4.07

Eligibility

You can open an Arunalu Account on behalf of any child from an infant to 18 years of age.

Required documents

Arunalu' Childrens Savings Account Mandate.
Know Your Customer (KYC) form.
Depositor's National Identity Card/Valid Driving license/Valid Passport that carries the NIC number.
Address verification documents (If the address given to the bank is different from the National Identity Card / Driving License.) More info >>
Original birth certificate of the minor (Copy to be retained with branch).

Opening an account

Minimum initial deposit – Rs 100/-.

All new Arunalu Accounts opened with an initial deposit of Rs 1,000/- or above will be provided with a Beato till free of charge.

To open an account please collect an Arunalu Children's Savings Account opening form, from your nearest Commercial Bank branch or download it from below, complete the form and hand it in with the original birth certificate of the child together with a photocopy. The original birth certificate will be returned to you. Remember to take your National Identity Card, driving license or valid passport that contains your National Identity Card number. This is important for us to identify you and ensure your account’s security.

Making withdrawals

The total balance in the Arunalu Children's Savings Account can be withdrawn, on and after the 18th birthday of the child. It can also be transferred to one of our other deposit products such as Regular Savings Account, Power Bonus Account, Vibe Youth Account, Anagi Women’s Savings Account, Flash Digital Bank Account, Super Saver Account or a Fixed Deposit.

Terms & conditions apply

Product information and terms & conditions are subject to change from time to time.Therefore, it is advisable to contact the branch nearest to you for the latest information and prevailing terms & conditions.