NCC Bank to launch accounts for children

Posted by BankInfo on Thu, May 17 2012 07:29 am

National Credit and Commerce Bank will introduce banking products for schoolchildren to encourage them to build a habit of saving.

“We believe the school is not only a place for academic lessons, but also a place where a student must learn how an individual can be a meaningfully contributing member of the society,” Mohammed Nurul Amin, managing director of the Bank, told reporters at his office yesterday.

Speaking at a press conference on the occasion of marking the Bank's 19th anniversary, Md Nurun Newaz Salim, the chairman of NCC Bank, and Amin presented the Bank's achievements and future plans.

The Bank will start the school savings programme in rural areas and later spread the service across the country.
The products under school banking are Youngster Account, Youngster Moneyplant Account and Younger Maximus Account.

NCC Bank's school banking programme will give the account holders an easy and interactive way to learn money management skills they will be able to use through their lives, Amin said.

Nowadays, young people have access to more money than ever before as they get allowances and gifts and, for many, income from showcasing their talents in different competitions, he said.

It makes the young generation more responsible for managing decisions -- for everything from small savings to their higher education. Youngster Moneyplant Account is designed for them.

Youngster Maximus Account gives a higher rate of return than a regular transactional account or traditional fixed deposit account.

The young students get cash gifts on different religious celebrations, New Year or Pahela Boishakh, birthdays and special family occasions. They can save unspent money in Maximus Account.

Salim said NCC Bank started its journey with 16 branches 19 years ago. Now it has 87 branches.

“Our corporate vision is to become the Bank of choice in serving the nation as a progressive and socially responsible financial institution by bringing credit and commerce together for profit and sustainable growth,” he said.

Remittance has been playing a vital role in the development of the country's economy and NCC Bank signed deals with 34 countries to bring in remittances from abroad.

The Bank plans to set up NCCB Exchange (UK) Ltd in London.

The Daily Star/ Bangladesh/ 17th May 2012

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