Short answer — there’s no single “best” bank for every child in Sri Lanka. The best choice depends on what you value most (higher interest, gifts/insurance, low minimum deposit, good online access or a teen debit card). Common top options and when to pick each:

Recommended banks and why

• Hatton National Bank (HNB) — great all‑round minor product line (Singithi Lama / Singithi Kirikatiyo → Teen accounts) with low minimums, gift schemes, standing‑order guarantee insurance and automatic conversion to teen accounts as the child ages. Good for parents who want gift incentives plus protection for regular transfers. (hnb.net)

• Bank of Ceylon (BOC) — several children’s plans (Ran Kekulu Smart, Haritha Kekulu) that advertise higher-than-normal savings rates, medical/life insurance benefits and scholarship rewards. Good if you prioritise additional insurance/scholarship features. (boc.lk)

• People’s Bank — Isuru Udana / Sisu Udana children’s accounts available island‑wide with very low opening deposits and gift/education incentives. Good when you want easy branch access and a low barrier to start saving. (peoplesbank.lk)

• DFCC Bank — “DFCC Teen” (13–18) focused on giving teens some financial independence: teen debit card, spend limits and parental oversight. Good if your main goal is teaching teens to manage money with controlled card access. (uat-dfccweb.dfcc.lk)

• Standard Chartered Sri Lanka — “My Dream Account” for children (below 18) with competitive published interest rates and strong online/mobile banking. Good if you need strong digital access and globally recognised bank services (note Standard Chartered often has larger minimums). (sc.com)

Other noteworthy options

• State Mortgage & Investment Bank (SMIB) “MuthuSina” — gifts and relatively high advertised interest for a kids’ scheme. (smib.lk)
• SDB (Sampath/State Development Bank product “Lakdaru”) — children’s account with insurance and rewards. (sdb.lk)

Quick checklist to choose the best one for your child

• Interest rate on balances (compare tiered rates if balance will grow).
• Minimum opening deposit and required ongoing minimum balance.
• Fees (withdrawal, passbook, debit card, dormant).
• Perks: gift schemes, scholarships, medical/life insurance, standing‑order guarantee.
• Digital access and parental controls (mobile app, e‑statements, SMS alerts).
• Teen features (debit card, spending limits) if the child is older.
• Branch/ATM convenience where you live in Sri Lanka.

If you want, I can:

• Compare current interest rates, minimums and fees for 3–4 specific banks you care about (I’ll fetch up‑to‑date product pages and list the differences).
• Or recommend a single best pick based on the priorities you want (interest, low deposit, digital access, insurance, or teen card).

Sources: official product pages from HNB, BOC, People’s Bank, DFCC and Standard Chartered Sri Lanka. (hnb.net)