For Bangladesh’s low- and middle-income families, high inflation has been a relentless thief, snatching away spare cash and driving up the cost of everything—including education.

School students, too, have felt the pinch, their piggy banks growing lighter as savings dwindled month after month in the 2024-25 fiscal year. But December brought a glimmer of hope: school banking deposits are finally on the rise again.

The latest Bangladesh Bank report paints an encouraging picture. In December 2024, student deposits hit Tk 2,710 million—a Tk 300 million jump from November’s Tk 2,410 million. That’s a welcome uptick after a rocky stretch.

Compare it to last year, though, and the story shifts: December 2023 clocked in at Tk 2,179 million, meaning savings are still down Tk 108 million year-over-year.

Rewind to July, the fiscal year’s kickoff, and deposits stood at Tk 2,200 million. Then came the slide—Tk 2,172 million in August, Tk 2,135 million in September, Tk 2,087 million in October, and a low of Tk 2,410 million in November. Five months of steady decline had parents and students alike wondering if the savings habit was fading. But December’s rebound suggests the tide might be turning.

The numbers aren’t just about cash—they’re about kids stepping up. By December’s end, 4,380,159 student accounts dotted the banking landscape, up 37,900 from November’s 4,342,259. Boys led the charge with 2,232,672 accounts (a 26,688 increase), while girls followed close behind at 2,147,887 (up 11,212). It’s a sign that school banking, launched by the central bank in 2010, still has pull—teaching kids financial smarts one taka at a time.

Back in 2011, when the program first let students save, just 29,080 accounts sprang up. Now, 59 banks are in on the action, offering perks galore for 11- to 17-year-olds: no fees, free internet banking, no minimum balance, and low-cost debit cards—all starting with a mere Tk 100 deposit. The goal? Hook kids on saving early and arm them with money know-how for life.

Inflation’s shadow looms large, squeezing education costs and testing resolve. Yet December’s deposit spike—however modest—hints at resilience. Are students and families digging deeper to fight back? Or is this a fleeting blip before more tough months? For now, school banking’s small victory is a spark worth watching—one that could light the way to a savvier, thriftier generation. Jago News