People’s Bank ‘SisuUdana’ awards Scholarships worthRs. 20mn to Grade 5 students

 Lionel Galagedara - Deputy General Manager (Retail Banking), People’s Bank

People’s Bank will be awarding students and ‘SisuUdana’ Account -holders who excelat the grade 5 scholarship examination with scholarships amounting to Rs. 20 million. To support gifted students who secure the top spots at National and District level, People’s Bank will  award these students special scholarships and gifts to bide them well in to their tertiary education. 

Students placed all-Island first, second and third will be awarded with cash prizes of Rs. 150,000, Rs. 125,000 and Rs. 100,000 respectively and at a District level, students who place first, second and third from every District will be awarded with cash prizes of Rs. 25,000, Rs. 20,000 and Rs 15,000 respectively. 

Moreover based on district wiseperformance, scholarships worth Rs. 5,000 will be gifted to 2000 ‘SisuUdana’ Account holders who attain scores beyond the pass mark from each District. This ‘SisuUdana’ initiative will also contribute monetarily to the schools which enroll students who are placed first from each District.

Lionel Galagedara - Deputy General Manager, Retail Banking, People’s Bank commented on this initiative saying “This initiative has been carried out since 2008 and is aimed at uplifting the access children have to education whilst instilling a habit of saving at a young age.In line with this mandate, People’s Bank has been gifting prize money to high-achievers atthe year 5 Scholarship, Ordinary and Advanced level examinations. I firmly believe it is our responsibility as an institution to continue this work to propel our economy forward.People’s Bank surpasses this responsibility by providing a host of financial solutions to students’rightup to their tertiary education”

SisuUdana Student Seminar for the Grade Five Scholarship Examination

By the 30th of September 2016, ‘SisuUndana’ account holding students who successfully get through the scholarship exam(based on the district -wise pass mark) with a minimum account balance of Rs. 5,000 arealso entitled to apply for these scholarships. Once results are published, eligible students can head over to the People’s Bank branch that originated their ‘SisuUdana’ savings account and submit the relevant form.

About ‘SisuUdana’ savings accounts

Providing a competitive interest than most other savings accounts, the ‘SisuUdana’ account scheme saw its inception in the year 1996. It is now the savings scheme used most widely by students’island wide. Students who open this savings account are gifted school bags, books and other school equipment to encourage a savings habit at a young age. Moreover, People’s Bank holds student seminars each year to impart invaluable insight prior to their examination. People’sBank also takes this step further by conducting informative seminars for the parents who play a vital role during this stressful examination period.