Bank of Maldives (BML) has announced a special discount scheme for its Student Debit Card users, aimed at promoting financial literacy among young people while offering savings on everyday purchases.

According to BML, students using the card at POS terminals in selected shops, restaurants, and bookstores can now enjoy discounts of up to 10 percent. A list of participating outlets is available on the bank’s website.

The Student Debit Card is designed to teach financial responsibility and budgeting skills to students aged 7 to 18. It is available in two designs, catering to two age groups: 7–12 years and 13–18 years.

To further incentivise good spending habits, BML will credit 0.5 percent of the student’s total annual card expenditure into their savings account once a year. Parents can manage and monitor spending, send funds, and access features like card freezing, unfreezing, PIN changes, and more via the BML mobile banking app.

The card, issued as a Visa debit card, is fee-free and allows both domestic and international transactions. A monthly foreign exchange limit of USD 100 applies for local users, while students abroad are allowed up to USD 1,200 monthly upon document submission.

Parents can apply for the Student Debit Card directly through the BML mobile banking app.