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Opening a Bank Account

Financial Literacy

 Lesson Plan

Objective: Participants will be able to know the logic of opening a Bank Account, it’s process and various associated services 

Total Time: 90 minutes

Materials Required:  Printout of Account opening form to be distributed to every student, white board and marker

Instructor Note:

This session is a starting point for the Financial literacy module. The purpose of the module is to make the participants understand and practice basic concepts related to finance in life. This session will make them more aware about opening a bank account and using the basic baking services. 

Opening Protocol:

  • Greet the participants

  • Take attendance

  • In pairs, ask participants to share with each other how they are feeling.

5 Minutes

Concept Discussion:

  • Ask students, have they ever been to a bank? Counter question the students who respond with a Yes about their experience. 

  • Ask students if they have a bank account. Ask them to share their experience of visiting banks or using banking services with the class. Take 2-3 responses. 

  • Tell students that today we will be learning basic banking services and also the procedure to open a bank account

  • Ask students to sit in groups of 3-5 to ensure each group has people who have used banking services and the ones who haven’t used bank accounts. This will ensure peer learning and will make the session relevant for everyone

  • Ask participants to open their handbooks and go through the concepts given in the “Opening bank account” lesson

  • Give them 10 minutes to go through the concept and help each other. Tell them that you will check for understanding after 10 minutes by asking any student to explain any concept

  • Randomly ask 2-3 students to explain the following concepts-

  • Why should we open a bank account?

  • What are some common services the bank offers?

  • What is the difference between current and saving counts?

  • Help students in understanding the basics of banking 

10 Minutes

Activity 1: Opening a bank Account

  • Distribute the printouts of bank account opening forms to students. Ask students to fill the form in 15 minutes. Help them if they feel stuck. Ask students to help each other as well

Once they are done, tell them the basic etiquettes of filling a bank account opening form. 

  • Avoid using Gel Pen

  • Keep your details the same as mentioned in the document 

  • Stay focused to avoid any mistakes

  • Ask for another form if there is a major mistake

  • Tell students how to give space in boxes while entering details

  • Bring your own pen, passport size photos and documents

20

Minutes

Activity 2: Cash receipt

  • Ask students what they understand by “Cash receipt”. Ask students to open their handbooks and see the format of cash receipt

  • Tell them that cash receipt is used when you go to deposit cash in your bank account

  • Ask them to fill the receipt assuming that they are going to deposit Rs. 10,000 in their bank accounts. Students who don’t have bank accounts can use an imaginary account number

  • Tell students to help their group members

  • Give them 10 minutes to fill the receipt

  • Roam around and check some receipts to ensure students are filling in the correct details. If students are facing common issues, address them in front of the class

  • After 10 minutes, randomly ask 3 students to come in front and present their cash receipt

  • End the activity with a debrief by asking these questions:-

  • why do we use cash receipt

  • what are the details we fill in a cash receipt

  • where do we give the filled cash receipt in the bank

15 Minutes

Activity 3: Cheque

  • Ask students if they have ever used a Cheque. If students respond with “yes”, ask them why and how they used the Cheque. 

  • Ask students to open their handbooks and see the format of Cheque. Ask one student to come in front and explain different parts of a cheque 

  • Ask everyone to fill the blank Cheque format that they have in the handbook assuming that they are paying Rs. 20,000 to one of their group members. Tell students to help their group members

  • Give them 10 minutes to fill the Cheque

  • Roam around and check some Cheques to ensure students are filling in the correct details. If students are facing common issues, address them in front of the class

  • After 10 minutes, randomly ask 3 students to come in front and present their Cheque

  • End the activity with a debrief by asking these questions:-

  • why do we use a Cheque

  • what are the details we fill in a Cheque

  • where are the Do’s and Don’ts of using a Cheque book

15 Minutes

Activity 4: My Bank

  • Divide all the students in 3 groups

  • Ask each group to stand in separate corners of the room so they can concentrate on their group and don’t get distracted by other groups

  • Tell them that they are going to create “My Bank”, that means they will create the set-up of a bank showing different departments, people, signages etc. Tell them that this activity will help them know different people and departments in a bank so they can go to the right department/desk whenever they go for taking any service

  • Give them 10 minutes to create their banks using the space they have got in the classroom.

  • After 10 minutes, each group will present their bank in 2 minutes each. They need to emphasise on different departments/people and their role in the bank 

15 Minutes

Closing:

  • Use 5 minutes to answer the questions students may have

  • Encourage them to get their bank accounts opened

5 Minutes

Closing Protocol

  • Thank the participants for their time

  • Announce the next time you will be visiting them

  • Share the topic of the next session

  • Collect 1-2 most interesting activity sheets/artefacts from students and show to

  • Nodal officer and institution head after session

  • Click pictures of the artefacts for documentation

5 Minutes