BOC POWER+ INVESTMENT PLAN

Give your child the confidence to take on life with a firm financial foundation. Nurture them with the power to face life’s challenges with Bank of Ceylon’s Power Plus. Open a BOC Power+ Investment Plan and empower your child to succeed.

Benefits of the Investment Plan

  • Ensure a target return at maturity
  • A guaranteed higher return during the investment period
  • Encouraging a disciplined investment for your child through regular monthly deposits
  • Secure future for the child

 Features of the Investment Plan

  • Interest rate - 8% p.a. (A E R - 8.3%)
  • Can be opened for any child below 15 years of age
  • Parent, Guardian or any other person can open the account on behalf of the child
  • Four main investment plans with maturity amounts of Rs. 500,000/-, Rs.1.0 Mn, Rs. 2.0 Mn ,  Rs. 5.0 Mn
  • 3 to 17 years investment period based on the age of the child
  • Four main investment plans with maturity amounts of Rs. 500,000/-, Rs.1.0 Mn, Rs. 2.0 Mn ,  Rs. 5.0 Mn
  • Monthly deposit varies as per age, investment period and the expected amount at maturity
  • Investment plan matures when the child reaches 18 years of age.
  • At maturity, accounts are converted to 18+ Youth Savings scheme until withdrawal of  funds by the account holder
  • Can be opened only in Sri Lankan rupees
  • Lump sum Option -

Accounts can also be opened to deposit a lump sum amount of Rs. 200,000/- or above received as proceeds of a compensation or a claim (Eg. Insurance claim, share of deceased account balance etc.) in the name of a child.(Maturity amount depends on the lump sum amount deposited)

 

 

Required Documents for Account opening

  • BOC Power+ account opening mandate
  • Birth Certificate of the Child
  • National Identity card of the parent or Guardian
  • KYC form to be obtained from the respective branch

BOC Power+ Investment Plans

Age

*Investment Period (years)

No. of Instalments

Expected amount at maturity (Rs.)

500,000

1 Mn

2 Mn

5 Mn

 Monthly Instalments (Rs.)

– calculated to nearest Rs. 100/-

1

17

204

1,200

2,400

4,800

11,900

2

16

192

1,400

2,700

5,300

13,200

3

15

180

1,500

3,000

5,900

14,800

4

14

168

1,700

3,400

6,600

16,500

5

13

156

1,900

3,800

7,500

18,600

6

12

144

2,200

4,300

8,500

21,100

7

11

132

2,500

4,900

9,700

24,100

8

10

120

2,800

5,600

11,100

27,700

9

9

108

3,300

6,500

12,900

32,100

10

8

96

3,800

7,600

15,100

37,700

11

7

84

4,600

9,000

18,000

45,000

12

6

72

5,500

11,000

21,900

54,700

13

5

60

6,900

13,700

27,400

68,500

14

4

48

9,000

17,900

35,700

89,200

15

3

36

12,400

24,800

49,600

123,800

                                                                                           * Subject to Withholding Tax

                   Other Terms   

      • Monthly deposits made on or before the due date, throughout the agreed period would assure the expected amount at maturity of the investment plan.
      • Pre-mature withdrawals are not permitted.
      • If monthly deposits not made consecutively or intermittently for Six months period, the investment plan will be terminated and converted to Ran Kekulu Ginum.
      • In pre-mature termination incurred above 3 years period from the account opening date, the interest rate applicable for BOC Power+ scheme will be paid for the period prior to termination.\
      •  
  • Investment plans are subject to Withholding Tax (WHT)
  • *Conditions Apply