Bank of Maldives (BML) has set the interest rates for Kids Saver Accounts at 3 percent for Maldivian Rufiyaa accounts and 3.5 percent for US Dollar accounts.
Bank of Maldives (BML) has set the interest rates for Kids Saver Accounts at 3 percent for Maldivian Rufiyaa accounts and 3.5 percent for US Dollar accounts.
BML stated that the newly established interest rates will apply to both newly opened accounts and existing Kids Saver Accounts, as well as BML Islamic Kids Saver Accounts at their specified rates.
BML's Deputy CEO and Acting Head of the Bank, Aishath Noordeen, said that the rates for Kids Saver Accounts were changed to encourage saving for the future. She emphasized the importance of teaching children financial skills in saving and spending money.
"Starting today, with every newly opened Kids Saver Account, parents can apply for a free reloadable Mastercard prepaid card. This card can be loaded with money and used for daily expenses. This facilitates teaching children the basics of managing expenses and spending wisely," she said.
BML has launched a special promotion today targeting Kids Saver Accounts.
As part of this promotion, they are offering a grand prize of 10,000 Rufiyaa to 5 randomly selected winners. Additionally, as an annual prize, 20 active accounts will be selected each year, with each account receiving a prize of 2,500 Rufiyaa.
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