Cargills Bank recently unveiled its “Smart Teens” Savings Account, designed exclusively for teenagers between 13 and 17 years of age. This innovative account aims to promote financial literacy, savings habits and financial responsibility among teenagers, offering them a structured environment in which they can cultivate responsible cash management habits. “Smart Teens” also gives teenagers an opportunity to start their financial journeys early, while making them equipped with the tools needed for a secure financial future. Featuring special, attractive interest rates and exclusive benefits, “Smart Teens” serves as a stepping stone for teenagers, encouraging them to take ownership of their finances.
The account will provide freedom for teenagers, but with necessary parental oversight, as parents play a key role in guiding their teens through the process of learning good financial habits. Accordingly, while teens have access to their own accounts through free internet banking, mobile banking facilities with restricted transaction values, and a smart debit card. Parents will receive SMS alerts and e-statements so they can monitor transactions. The balance between independence and necessary supervision enables teens to make informed financial decisions, while remaining safe. This will allow them to learn the importance of saving and good financial judgement with a degree of personal responsibility, but while supported by their parents.
Discussing the importance of this new product and proposition, Assistant General Manager (Retail & SME Business), Lasantha Mahendrarajah said, “At Cargills Bank, we believe that financial education should begin at an early age. The ‘Smart Teens’ savings account is our way of empowering the younger generation with the knowledge and tools necessary to take control of their financial futures. We are committed to providing them with a secure and supportive environment to develop good saving habits and financial literacy. Working together with the respective parents/guardians, we believe we can help teenagers learn the value of money, inspiring a generation that is confident in managing their finances, and prepared for the opportunities and challenges ahead in life.”
With “Smart Teens,” Cargills Bank reaffirms its role as a progressive institution dedicated to promoting financial wellbeing across demographics. The account’s unique blend of parental oversight, special benefits, and modern banking features makes it an ideal solution for today’s teens who are ready to take their first steps towards independently handling their finances.
Learn more about “Smart Teens” Savings Accounts from Cargills Bank or get started today – Call 0117640640, visit www.cargillsbank.com, or walk into any Cargills Bank branch Islandwide.
About Cargills Bank
With a vision to be Sri Lanka’s most inclusive bank driven by digital enablement, Cargills Bank is rated A(lka) by Fitch Ratings Lanka and is the financial services arm of the Cargills Group, providing a full range of banking and financial services. The Bank has also embraced a vision for a cashless society, driven by island-wide technology-based payment solutions.
In addition to branches, ATMs and digital channels, Cargills Bank accounts are also accessible through Cargills Retail outlets Islandwide and enjoy free cash deposits and withdrawals at all 530 Cargills Retail outlets courtesy of the Cargills Bank Supermarket Banking Service.
Cargills Bank is headquartered in Colpetty in Colombo and maintains branches at Maitland Crescent, Maharagama, Old Moor Street, Wattala, Kandy, Peradeniya, Nuwara Eliya, Chilaw, Fort, Rajagiriya, Ratnapura, Thanamalwila, Matara, Galle, Kurunegala, Kaduruwela, Vavuniya, Chunnakam, Jaffna Nawalapitiya, Negombo, Anuradhapura and Bandarawela. The Bank’s branch network is bolstered by 30 Cargills Bank MINI service points located within selected Cargills Food City outlets that carry out banking functions such as account opening and customer support.
