NDB Bank’s new ’’Privilege Junior Savings’’ launched

NDB Bank on Friday introduced its latest innovation, "Privilege Junior Savings."

This exclusive offering, tailored for the children of high-net-worth individuals, underscores the bank's commitment to instilling financial empowerment from a tender age, the bank said in a media release.

Curated for resident Sri Lankan minors aged 1 day to 18 years, Privilege Junior Savings is  a testament to the bank’s dedication to providing bespoke services to the distinct needs of privileged young individuals.

Kelum Edirisinghe, NDB CEO, said, "Nurturing future leaders with financial acumen, NDB Privilege Junior Savings serves as the bedrock for a secure and prosperous future." The bank aims to cultivate responsible financial habits while delivering exclusive benefits throughout their journey.

Privilege Junior Savings offers a suite of benefits, including elevated interest rates, bonus interest for monthly deposit commitments, a dedicated debit card facility for teenagers (13 to 18 years) via the NEOS Pixel Digital Savings Account, and mobile banking facilities. Account holders also enjoy a special gift scheme, hospitalisation cover, and a range of unique tailor-made engagement activities to partake in.

Beyond financial incentives, the account actively encourages valuable life skills, promoting compulsory savings, prioritising easy withdrawals for emergencies or educational needs, and fostering digital banking skills early on through the bank’s mobile app, NEOS, as well as granting a debit card for greater financial independence.