A treat for the feet at Sri Lankan bank.

I don’t claim to be an expert in international banking, but I did find this kids’ savings account promotion interesting. It’s sponsored by Sampath Bank, a Sri Lankan bank with 113 branches. The month long bank promotion ends at the end of January.

The accounts, the Pubudu Triple S Children’s Savings Account and the Sapiri Super Investment Account for Children, have various “slabs”, or as we’d call them tiers. For a deposit of 1,000 Sri Lankan rupees (approx. $9), the kids receive school supplies. For Rs. (rupees) 2,500, a voucher for a “trendy pair of shoes” comes with the supplies. And for Rs. 5,000, the ante goes up to shoes and additional school supplies. The gifts are valued at more than 50% of the deposit amount. The bank claims to have attracted more than 10,000 customers (both existing and new) within the first 20 days. Commenting in The Island Online regarding the new launch, Marketing Manager of Sampath Bank Upul Nawaratne Bandara said,

"Even though this gift scheme is costly, Sampath Bank thinks that it is an investment, as it eventually facilitates to make well educated future leaders to our country. Our tag line ‘We Present Your Future’ suits ideal along with the new gift scheme. The success of Sampath Bank is our customers and we are ready to offer them the maximum benefits, while developing the habit of saving among the rest of the community", he said.

"Furthermore, the gifts received by the children are valued at over 50 percent of the deposit amount, so the more you save the more you get with this tremendous offer from the Sampath Bank. We want to accommodate people who can save something and to increase their practice of saving. So, this note is for the wise parents in this country who care about their children", he stated.