Highlights

• Isuru Minors’ Savings Plan is the ideal Investment plan for your child which is easy and a convenient way to save regularly for your child's future.
• Your child will receive a guaranteed amount upon he/she reaching 18 years of age. 
• You can choose either to save monthly or do a one-time single (Lump sum) deposit, as you desire. 
• Your child will receive an entitlement certificate which assures that he/she will receive the guaranteed amount as he/she reaches 18 years of age, despite any interest rate fluctuations.

Features

There are 2 savings methods to Choose from,

• The Isuru Monthly Deposit Scheme

The Isuru Monthly Deposit Scheme allows you to deposit a selected amount from Rs 500/- to Rs 20,000/- monthly or any amount in between in multiples of Rs 500/-. The period of deposit could also vary from five to ten years

• The Isuru Lump Sum Deposit Scheme

The Isuru Lump Sum Deposit Scheme is to deposit a single lump sum. You can make deposits starting from Rs 5,000/-.

Isuru entitlement certificate will be issued upon completion of one of the above mentioned payments schemes. The guaranteed amount that your child will receive depend on the amount you deposit, period and the age of your child.

In the event of the unfortunate demise of the depositor during the agreed period of deposit, the Bank will take care of the monthly deposits and will issue the entitlement certificate for the full guaranteed amount. Your child, upon reaching the age of 18 years, can collect the full guaranteed amount by presenting the Isuru entitlement certificate to the Bank.

Opening an account

To open an Isuru Account please collect an Isuru application form from your nearest Commercial Bank branch, complete the form and hand it in with a photocopy and the original birth certificate of the child. The original birth certificate will be returned to you. Remember to take your National Identity Card (NIC), driving license or valid passport which carries your NIC number. This is important for us to identify you and ensure your account’s security.

Interest rates

Required documents

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

Making withdrawals

The total account balance could be withdrawn on or 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. 

Frequently asked questions >>

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.