BML Launches Discount Scheme for Student Debit Card Users!

Business

Bank of Maldives (BML) has introduced a special discount scheme for its Student Debit Card holders, offering young users up to 10 percent discounts at selected shops, restaurants, and bookstores across the country.

The initiative is part of BML’s ongoing efforts to promote financial literacy and responsible spending habits among students aged 7 to 18 years. According to BML, the full list of participating outlets is now available on the bank’s official website.

The Student Debit Card, issued as a Visa debit card, is tailored to encourage budgeting skills and financial awareness from an early age. It comes in two unique designs for two age groups: 7–12 years and 13–18 years. The card is fee-free and supports both domestic and international transactions.

To further support smart money habits, BML will credit 0.5 percent of the total annual expenditure made via the Student Debit Card into the student's savings account once a year.

Parents and guardians can actively manage the card through the BML Mobile Banking App, with features such as:

1. Fund transfers
2. Spending monitoring
3. Card freezing and unfreezing
4. PIN changes and other security controls

For international transactions, the card allows a monthly foreign exchange limit of USD 100 for local use, while students studying abroad can access up to USD 1,200 per month upon submission of supporting documents.

Parents can apply for the Student Debit Card directly through the BML Mobile Banking App.

This latest offering reflects BML’s commitment to empowering the next generation with tools for financial responsibility, while rewarding smart spending with tangible benefits.