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SBM dishes out piggy banks to instill savings habits among kids

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Photo Credit: Defi Media

SBM Bank (Mauritius) Ltd is distributing piggy banks to clients under 18 years old (children and adolescents) in a bid to instill the habit of saving in children.

Defi Media cited an SBM’s Sanjaiye Rawoteea, Head of Consumer Banking as saying that the “Amigos Money Box” will be given to several thousand eligible SBM Amigos account holders.

“It is a great way to get the new generation to understand and get involved in managing their finances early,” he said.

The Amigos piggy bank will be offered to an active SBM Amigos account with a minimum balance of Rs 50,000.

As for non-clients, they will be required to open an SBM Amigos account with a minimum balance of Rs 5,000 and commit to a standing order of at least Rs 500 monthly to receive the piggy bank.

The bank will also credit Rs 500 to a newborn’s account.

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