School banking is gradually getting huge response among the students across the country as deposits with the banking accounts have crossed Tk 1,200 crore at the end of September 2017, reports BSS.

The central bank’s latest quarterly report on financial inclusion shows that a total of Tk 1,254.23 crore was deposited with 13,87,617 school banking accounts at 56 scheduled banks up to September 30 this year.

During the July to September period, the deposit amount and accounts have increased by 22.87 per cent and 10.36 per cent respectively compared to the corresponding period of the preceding year.

During July to September 2016, deposits with the school banking accounts were Tk 982.59 crore and accounts were 12,55,026.

According to the report, the school banking service is more popular in cities than in rural areas as 8,43,607 school banking accounts were opened in cities against 5,44,010 accounts in rural areas.

The banking is also more popular among the male students than female students as 8,15,434 school banking accounts were opened by male students against 5,72,183 accounts by female students.