School banking is gradually getting huge responses from the students across the country as deposits with the banking accounts was around Tk 1,494 crore at the end of June 2019.
The central bank’s latest quarterly report on financial inclusion shows that a total of Tk 1,494.40 crore was deposited with 1,996,030 school banking accounts at 55 scheduled banks as of June 30 this year.
According to the report, the school banking service is more popular in the cities than in the rural areas as 1,225,004 school banking accounts were opened in the cities against 771,026 accounts in the rural areas.
The banking is also more popular among the male students than the female students as 1,138,080 school banking accounts were opened by male students against 857,950 by female students.
Bangladesh Bank launched the programme in November 2010 for school students to help them save up for the future, learn financial literacy at an early age and build the habit of saving.
Dutch-Bangla Bank, Eastern Bank, Dhaka Bank, United Commercial Bank and Islami Bank Bangladesh are the five banks that pulled most of the deposits from the students.
Islami Bank opened 369,623 accounts, which is 18.52 percent of the total accounts, while Dutch-Bangla Bank ranked first by collecting deposits of Tk 465.88 crore with school banking accounts.