BML increases profit rate for Kids’ Saver accounts

The Bank of Maldives (BML) has announced positive changes to its Kids’ Saver accounts, with an increase in rate to 3 percent profit on MVR accounts and 3.5 percent profit on USD accounts.

The bank also announced a new promotion on Sunday to offer prizes for both existing and new Kids’ Saver accounts:

• Grand Prize for five lucky winners: MVR 10,000 each
• Annual Rewards: MVR 2,500 for 20 active accounts

“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,” said BML's Deputy CEO and In-charge of the bank, Aishath Noordeen.

“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.

Additional information regarding the promotion is available on the bank’s website.