The Bank of Maldives (BML) on Sunday has announced positive changes to the Kids’ Saver accounts with increased profit rate.
According to the bank, it has increased the rate of Kids’ Saver account profit by 3% on MVR accounts and 3.5% on USD accounts. The bank also announced a new promotion to offer fantastic prizes for both existing and new Kids’ Saver accounts, which include:
- Grand Prize for 5 lucky winners: MVR 10,000 each
- Annual Rewards: MVR 2,500 for 20 active accounts
Speaking about this change, BML’s CEO and in-charge Aishath Noordeen said, “With our enhanced rates and exciting rewards, we are encouraging savings for our future. We believe in equipping our future generations with essential financial skills to save and spend wisely.”
“From today, with each new Kids’ Saver Account, parents can also request for a free reloadable Mastercard Prepaid card. This card can be topped up and used for everyday purchases, paving the way to help kids learn the essentials of budgeting and spending wisely.”
The new interest rate for Kids’ Saver account and profit rate for BML Islamic Kids’ Saver account are applicable for new and existing accounts.