Short answer

• There’s no single “best” account for every family — the top choices (as of Sep 16, 2025) are Commercial Bank’s Arunalu/Isuru minors plans, Bank of Ceylon’s Ran Kekulu SMART, Sampath/Siyapatha’s Kirula (children’s) account, HNB’s Yalu children’s savings and the newly expanded Amana Bank Kids. Pick by what matters most to you: headline interest rate, bonus/insurance/education benefits, restrictions on withdrawals, and ease of regular deposits. (combank.lk)

Quick comparison (high‑level)

• Commercial Bank (Arunalu / Isuru)
  • Strong name for children/youth products; some minors plans offer higher interest and the ability to convert to youth FDs at maturity. Good branch/online coverage. Exact rates vary by product and balance. (combank.lk)
• Bank of Ceylon (Ran Kekulu SMART)
  • Promoted as a saving + protection package: competitive bonus interest above normal savings, medical/life insurance and scholarship schemes, mandatory standing-order options to encourage regular savings. Good for families who want added benefits beyond interest. (boc.lk)
• Sampath Bank / Siyapatha (Kirula / Siyapatha Kirula)
  • High tiered interest for children’s account (advertised as among the higher retail child rates), wide ATM/LankaPay network via parent bank. Good for higher effective interest on smaller balances. (siyapatha.lk)
• HNB (Yalu Children’s Savings)
  • Tiered interest bands (higher rates for higher balances), low opening deposit and promotional gifts; some accounts restrict withdrawals until 18 which can be good for long‑term saving. (hnbfinance.lk)
• Amana Bank Kids (launched/expanded 2025)
  • Newer program (May 2025) with promotional incentives (e.g., welcome credit for very young accounts and standing‑order bonuses). Attractive if you want automated saving incentives and Islamic‑compliant options. (amanabank.lk)

Which to choose (practical guidance)

• If you want the highest stated interest: check current published rates and tier structure (Sampath/Siyapatha and some Commercial Bank minors plans often feature higher tiered rates). Verify the balance bands — higher rates sometimes apply only above certain balances. (siyapatha.lk)
• If you value insurance/scholarship/extra benefits: Bank of Ceylon Ran Kekulu SMART packages include insurance and prize/scholarship programs. (boc.lk)
• If you want incentives for regular deposits: look for accounts that reward standing orders or automated monthly deposits (Amana Bank Kids and BOC require/encourage standing orders). (amanabank.lk)
• If you want easy conversion at maturity (minor → youth/adult): Commercial Bank products specifically mention conversion options. (combank.lk)

Important caveats and next steps

• Rates, bonuses and terms change frequently in Sri Lanka — I checked bank pages and press releases but you should confirm the current rate/terms at the branch or on the bank’s official website before opening. (Today’s date: September 16, 2025.) (combank.lk)
• Documents commonly required: child’s birth certificate/ID/photo, parent/guardian NIC or passport, KYC for guardian, mandate form. Minimum opening deposits vary (some accounts have very low minimums). (hnbfinance.lk)
• Ask the bank about: whether interest is paid monthly/annually, penalty/limits on withdrawals before age 18, automatic transfer/standing‑order options, account maintenance fees, and whether any promotional “bonus” applies only for limited time.

If you want, I can:

• Fetch current published interest rates and exact product pages for 3 specific banks you’re considering (I’ll look up live pages and give a side‑by‑side of rates and restrictions).