18+

18+ Youth Savings Account

  • 18+ is the comprehensive savings package designed for the youth.
  • 18+ account can be opened at any Bank of Ceylon branch by any Sri Lankan citizen between the age of 18 to 25
  • Benefits of the account can be enjoyed up to age of 35 years.
  • Existing Ran Kekulu and 14+ accounts will be automatically converted to 18+ Accounts at the age of 18 years.

 

18+ Youth Savings Account Offers

  • Higher interest rate than the normal savings accounts
  • Medical insurance cover for Account Holder
  • Life Insurance cover for Account Holder
  • Gift at wedding
  • Free Ran Kekulu Account for the first baby
  • Scholarships for University Entrants
  • Debit/ ATM cards
  • Internet and mobile Banking Facilities
  • Instant loan upto 90% of the account balance

 

Terms and Conditions

  • Bank of Ceylon holds the right to change, add or revise any condition and facilities offered for the Accounts
  • It is advisable to contact your nearest BOC branch or our Call Centre on011 220 4444 for the latest information and prevailing terms and conditions

 

 

1. Higher rate of interest

  • Offer 0.5% higher interest rate than the normal savings account

 

2. Medical Insurance cover for Account Holder

  • Medical insurance up cover to Rs. 100,000/- per annumis provided in case of accident or 10 critical illnesses
  • Private Hospital: Actual expenses incurred up to a maximum of Rs: 100,000/- if admitted for 1 night or more
  • Government Hospital: Rs: 600.00 per day for a minimum of 03 days and maximum of 30 days
  • Terms & Conditions:

- Covers only upto age of 35 years

- Minimum balance of Rs.10,000/- should be continuously maintained for a minimum period of 6 months before hospitalization

- Claims to be submitted to the bank within 5 months of the incident

Covers only upto age of 35 years

3. Life Insurance cover forAccount Holder

  • 10 times of the balance upto a maximum of Rs. 500,000/- will be paid at the death (Natural/Accident) / Permanent Disability (due to accidents only) of the account holder
  • Terms & Conditions:

- Minimum balance of Rs.10,000/- should be continuously maintained for a minimum period of 6 months before the death of Account holder

- Claims to be submitted to the bank within 5 months of the incident

- Covers only upto age of 35 years

 

4. Scholarships for University Entrants

  • Those who maintain a minimum balance of Rs.10,000/- during the calendar year which he/she sits for A/L examination ( I.e. from January to Dec), and have passed the GCE A/L Examination during the same year and having been registered in a Sri Lankan university will be entitled to apply for the 18+ Scholarship for University entrants

 

5. Wedding gifts

  • Based on the date of Account Opened, Account Balance and the period of balance maintained wedding gift will be  decided (Gift voucher, 1/2 or 01 sovereign Gold Coin)

 

6. Free Ran Kekulu Account for your first baby

  • A Ran Kekulu Account will be opened by the bank to the first baby of the account holder.
  • Terms & Conditions:

- Minimum balance of Rs.10,000/- need to be maintained for a continuous period of one year immediately preceding such birth.

 

7. Personal loan facilities

  • Instant loan facilities equivalent to 3 times of the minimum balance of 18+ account during last 12 months
  • Minimum quantum of loan will be Rs. 30,000/- and the maximum will be Rs. 500,000/-

 

8.  Debit and Credit Card facilities

  • Special ATM/Debit card is issued to withdraw money from island-wide ATMs
  • This can also be utilized at POS machines as a debit/ shopping card.

 

9.  Internet and mobile banking facilities

  • Provide facilities to check your balance and carry out other internet banking transactions via internet
 
 
 

Following documents are required at the account opening

  • National Identity Card
  • Address proof (If not residing in the same place mentioned in NIC)

 

For more information contact the nearest Bank of Ceylon Branch.

* Conditions apply

 

Application Download

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