SIBL School Banking

Table of Contents

Empowering Young Minds: SIBL’s Tailored Savings Solutions for Students

SIBL Student Account

In today’s dynamic world, the youth are the future leaders and entrepreneurs of our country. Recognizing the importance of nurturing a culture of savings from a young age, SIBL proudly introduces the SIBL Student Account. This initiative aims to instill financial discipline and encourage school-going children to save for their future.

Daily Profit and No Minimum Balance

The SIBL Student Account offers beneficiaries a unique opportunity to earn daily profits on their daily account balances. What’s more, there’s no requirement for maintaining a minimum balance, making it accessible to students of all backgrounds.

Annual Charge-Free Debit Card

To facilitate seamless banking for our young savers, SIBL provides annual charge-free debit cards to all SIBL Student Account holders. This makes it easier for them to handle their money.

Attractive Gift Hampers

SIBL understand the importance of making the banking experience enjoyable for our young customers. Therefore, all new account holders are greeted with attractive gift hampers as a warm welcome to the SIBL family.

In-School Banking

With the cooperation of school authorities and our dedicated bank executives, students can deposit and manage their money right at their educational institutions. This partnership ensures that banking becomes a convenient part of their daily routines.

Paying School Fees Made Easy

Once they’ve opened their SIBL Student Account, students can easily pay their school fees by transferring funds directly from their account. This simplifies the process for both parents and children.

Investment Opportunities for Higher Education

For those with aspirations of pursuing higher education in the future, SIBL offers investment facilities to SIBL Student Account holders. This support can make dreams of advanced education a reality.

Mudaraba Education: Investing in Your Children’s Future

In addition to the SIBL Student Account, we also offer the “Mudaraba Education Deposit Scheme.” This scheme is designed to support your children’s education at every stage of their academic journey.

Key Features of the Mudaraba Education Deposit Scheme

This scheme is tailored to fund the higher education of your children.
Upon maturity, guardians receive a substantial sum, helping to realize their children’s dreams of higher education.
Flexible terms: Choose from 3, 5, or 10-year deposit periods.
Up to 80 percent investment facility on the total deposit amount.
Account holders receive a savings account at the bank.
Annual charge-free Debit and Credit cards.
Operates in compliance with Mudaraba principles of Islamic shariah.

SIBL Youngstar Account: Fostering a Savings Habit from an Early Age

We believe that cultivating the habit of saving should start early in life. Our SIBL Youngstar Account is designed to create awareness and inspire school-going students to save for their future.

Account Opening Procedures:

Eligibility: All students, from the time they start school up to the age of 18, are eligible to open this account.
Parents or legal guardians may operate the account on behalf of the students.
Both students and parents must complete personal information forms and provide valid signatures.
An initial deposit of Tk.100.00 is required.
Provide two copies of attested passport-sized photographs of the student.
Two copies of attested passport-sized photographs of the guardian and NID.
One passport-sized photograph of the nominee.
Birth registration/ID card of the school/attested pay slip from the last month/certification by the school—any of these documents can be provided to the bank.

Privileges of this account:

No additional charges or fees, except for government fees.
Free ATM Debit Card.
Online transactions at any branch and sub-branch.
Access to Internet Banking and Mobile App banking.
School payment collection by the bank based on a contract/memorandum with the school.
Deposition of stipends, subject to a contract/memorandum with the respective authority.
Enjoy a 25% discount on all pathological tests at SIBL Foundation Hospital.

For more details, please contact us at financial.inclusion@sibl-bd.com.

Incorporating these innovative banking solutions into your child’s life is an excellent way to prepare them for a financially secure future while ensuring that their educational aspirations are fully supported. SIBL is committed to nurturing the next generation of responsible and financially savvy citizens.

Frequently Asked Questions (FAQs)

1. What is the SIBL Student Account?

The SIBL Student Account is a special savings account designed for school-going children to encourage them to develop a savings habit from an early age.

2. How do I earn daily profits with the SIBL Student Account?

With the SIBL Student Account, you earn daily profits on your daily account balance, which are added directly to your account.

3. Do I need to maintain a minimum balance for the SIBL Student Account?

No, there is no requirement to maintain a minimum balance in this account.

4. What benefits do I get with the SIBL Student Account?

SIBL Student Account holders receive an annual charge-free debit card, attractive gift hampers at account opening, and the convenience of in-school banking with the help of the school and bank executives. You can also pay school fees directly from your account.

5. How can I save for higher education with the SIBL Student Account?

If you plan to pursue higher education in the future, the bank offers investment facilities to SIBL Student Account holders to help you achieve your educational goals.

6. What is the Mudaraba Education Deposit Scheme?

The Mudaraba Education Deposit Scheme is a savings solution designed to support your children’s education at various stages. It offers attractive returns upon maturity.

7. What are the key features of the Mudaraba Education Deposit Scheme?

This scheme is specifically tailored to fund higher education.
Guardians receive a substantial sum after maturity to support their children’s educational aspirations.
You can choose from flexible deposit periods of 3, 5, or 10 years.
Account holders enjoy up to 80 percent investment facility on the total deposit amount.
The scheme operates in compliance with Mudaraba principles of Islamic shariah.

8. How can I open a SIBL Youngstar Account for my child?

To open a SIBL Youngstar Account, your child must be a student aged up to 18 years. Parents or legal guardians may operate the account on their behalf, and the account opening process requires specific documentation and a nominal initial deposit.

9. What privileges come with the SIBL Youngstar Account?

There are no additional charges or fees, except for government fees.
Account holder receive a free ATM Debit Card.
Enjoy the convenience of online transactions at any branch and sub-branch.
Each SIBL Youngstar account holder will Access Internet Banking and Mobile App banking.
The bank can collect school payments based on a contract/memorandum with the school.
Stipends can be deposited, subject to a contract/memorandum with the respective authority.
Benefit from a 25% discount on all pathological tests at SIBL Foundation Hospital.

10. How can I get more information or open one of these accounts?

For further information or to open any of these accounts, please reach out to us at financial.inclusion@sibl-bd.com. SIBL team will be happy to assist you.