ECONOMYNEXT – Sri Lanka’s NDB Bank said it has started a savings scheme targeting children of high-net-worth individuals with facilities to support digital banking from the early teens.
“Nurturing future leaders with financial acumen, NDB Privilege Junior Savings serves as the bedrock for a secure and prosperous future,” Chief Executive Kelum Edirisinghe said in a statement.
Aimed at resident Sri Lankan minors aged 1 day to 18 years, the savings products also helps children from 13 to 18 year move into cashless transactions.
A debit card facility is available for teenagers from 13 to 18 years via at ‘NEOS Pixel Digital Savings Account’ and mobile banking facilities.
The account actively encourages “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,” the bank said.