Bank of Maldives Boosts Kids’ Saver Accounts with New Rates and Prizes

The Bank of Maldives (BML) has announced exciting updates to its Kids’ Saver accounts, increasing the interest rate to 3% for MVR accounts and 3.5% for USD accounts. In addition, the bank has launched a promotion featuring attractive prizes for both new and existing accounts.

Five lucky winners will receive a grand prize of MVR 10,000 each, while 20 active accounts will earn annual rewards of MVR 2,500. Aishath Noordeen, BML's Deputy CEO, emphasized the importance of fostering savings habits in children, stating, “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.”

Moreover, parents opening new Kids’ Saver accounts can request a free reloadable Mastercard Prepaid card. This card will enable children to make everyday purchases, helping them learn budgeting and responsible spending. The new interest rates apply to both new and existing accounts, encouraging a culture of saving among the young.