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Re: Bank for Students In Schools!

Postby Alexandoy » 12 May 2019, 13:59

SUPERSINGH wrote:I think this still helps because teachers and parents can guide and motivate kids to save and deposit in bank


Learning to save early is one good campaign that some banks do. But it looks like children nowadays are not encouraged to open a bank account. I wonder why.
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Re: Bank for Students In Schools!

Postby Happyland » 12 May 2019, 16:51

I did not have a bank in my school. It sounds like it could be a good idea if it is run correctly. Many people think money is the root of all evil but the better educated we are on money then hopefully will have a better mental approach.
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Re: Bank for Students In Schools!

Postby Angie10 » 12 May 2019, 17:27

Oh wow ok, that sounds like a fantastic idea! We never had that in any of the schools I attended in my country and as far as I know, no such thing exists today.
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Re: Bank for Students In Schools!

Postby A K Rao » 12 May 2019, 17:43

Angie10 wrote:Oh wow ok, that sounds like a fantastic idea! We never had that in any of the schools I attended in my country and as far as I know, no such thing exists today.


I personally feel that this helps the kids to develop the habit of saving right from their childhood ! At least in my case I learnt what is meant by savings from the bank which we had in our school!
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Re: Bank for Students In Schools!

Postby ptrikha21 » 12 May 2019, 17:47

A K Rao wrote:When we were kids and were studying in school (Secondary school) we used to have a Bank run y Government of India in our School by name 'Sanchayiti'. I think that was a scheme initiated by the Government to inculcate the habit of savings in the life of students at the early age!

I don't know if such banks are still functioning in schools or not! Did you have any Bank in your school? Have you opened an account there?


This is a good concept. We did not had anything in our school, but may be some schools could be having this concept in their campus these days.
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Re: Bank for Students In Schools!

Postby A K Rao » 16 May 2019, 07:47

ptrikha21 wrote:This is a good concept. We did not had anything in our school, but may be some schools could be having this concept in their campus these days.


This was in fact the project started by the Government then, which I doubt is still in existence or not!

In fact I was pleasantly surprised that there is an organization with the name School Saving which is having such schemes in schools and is approved by US Department of Education!

Link: http://ww2.schoolsavings.com/
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Re: Bank for Students In Schools!

Postby rakski » 16 May 2019, 08:45

Oh nice. We do not have anything like that. But some banks offer junior savings account for kids and teenagers.
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Re: Bank for Students In Schools!

Postby ahmedo24 » 17 May 2019, 04:57

This kids account is almost everywhere and it a very helpful cos you are directly saving for the child's future.
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Re: Bank for Students In Schools!

Postby Vehlijanta » 17 May 2019, 15:32

Banks have this option to open bank account on the name of minors but kids should be taught the value of savings.
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Re: Bank for Students In Schools!

Postby Angie10 » 17 May 2019, 17:55

A K Rao wrote:
Angie10 wrote:Oh wow ok, that sounds like a fantastic idea! We never had that in any of the schools I attended in my country and as far as I know, no such thing exists today.


I personally feel that this helps the kids to develop the habit of saving right from their childhood ! At least in my case I learnt what is meant by savings from the bank which we had in our school!


Oh, it does! And I hope you don't think I was against the idea because your comment seems to suggest that! I wish that were the case everywhere.
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Re: Bank for Students In Schools!

Postby arunima » 18 May 2019, 06:36

We did not have one. That would be great idea and I think it should be brought back to inculcate the habit of savings in youths. Also they would come to know of their saving potential and other benefits like interests etc.
We had a very popular culture of piggy banks in our time and even that is dying now.
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Re: Bank for Students In Schools!

Postby JASPREET » 18 May 2019, 07:28

These days even grown ups and adults don't give a thought to save money and like to spend all the money they earn or have.
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Re: Bank for Students In Schools!

Postby A K Rao » 18 May 2019, 07:33

arunima wrote:We did not have one. That would be great idea and I think it should be brought back to inculcate the habit of savings in youths. Also they would come to know of their saving potential and other benefits like interests etc.
We had a very popular culture of piggy banks in our time and even that is dying now.


In fact when I have done some research on the net I found that there are many countries in the World who are taking interest in this type of projects to encourage the students to save! Here is another link I am giving how the projects are handled !

Link: https://www.sefcu.com/school-banking-program
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Re: Bank for Students In Schools!

Postby A K Rao » 20 May 2019, 07:56

JASPREET wrote:These days even grown ups and adults don't give a thought to save money and like to spend all the money they earn or have.


That is OK for the people who have post retirement benefits in the form of regular pension either from the Government or from the Organization where they worked! In India people working in the private sector or into the business or into any other traits undoubtedly need to have savings for their old age! In India we are looked after by the Government like in many Western Countries after the age of 60!
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Re: Bank for Students In Schools!

Postby arunima » 20 May 2019, 07:57

A K Rao wrote:
arunima wrote:We did not have one. That would be great idea and I think it should be brought back to inculcate the habit of savings in youths. Also they would come to know of their saving potential and other benefits like interests etc.
We had a very popular culture of piggy banks in our time and even that is dying now.


In fact when I have done some research on the net I found that there are many countries in the World who are taking interest in this type of projects to encourage the students to save! Here is another link I am giving how the projects are handled !

Link: https://www.sefcu.com/school-banking-program

Thank You so much for sharing this link. I think it's a great initiative. As an educator when I study about teenage, one very significant thing of this age is their urge to handle finance and have some say in money matters. They like to have pocket money and be finacially independent. This the the right stage to let them learn about their financial matters and handle it. So such banks would be good to use this developmental stage and inculcate financial sense.
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