Natwest Piggy Bank came into existence in the year 1980” s in UK. These days the savings of the customers are done in digital form. But in NatWest Piggy Bank the savings are done by the children in physical forms. This Piggy bank, are the symbol of luck and wealth. The objective of this bank was to teach the children how to save money. When these Piggy Banks first came into existence these banks were made of ceramic. But as of now, they are made of wood, plastic. Etc. These Piggy banks are known by their various names like “Lady Hilary,” Annabel,”“Maxwell”, Baby Woddy”. These banks also aimed to teach children financial management and value of money. The children save their pocket money in this NatWest Piggy Bank and learn how to prioritize things of their needs.
This NatWest Piggy Bank exactly came into motion when the children saved their money in these NatWest Piggy and went to the banks to open their accounts. The banks after seeing, this opened the account for children and kept amount up to $3 for opening the account in the bank. For this the children were also given welcome gift .ie different types of NatWest Piggy Banks. Like up to $3 dollar baby pig called Woody was given, when the amount that the children have saved in their NatWest Piggy Bank went more than $25 dollar bank gave Woody’s sister Annabel to the children, at $50 brother Maxwell and finally Lady Hilary at $75 was given. Thus, on the very first day the bank recorded the openings of 1500 accounts for the young children in Britain and as the time passed by there had been more than 1 billion accounts opened through NatWest Piggy bank.
These days beautiful NatWest Piggy Banks are coming into the market, made of different different types of materials, designs and colours. The people are preferring to give these NatWest Piggy banks on special occasions to each other, especially children like on Christmas, Diwali, Holi as it is considered as a good financial fortune.
If one wants to buy these NatWest piggy bank he can buy from NatWest official site, E bay and Amazon. If they want to buy unique NatWest piggy banks they can visit the site Etsy, Bonhams, On the other hand one can visit the local market and buy the product from fare and exhibitions and local shops.
When the customer purchases the whole collection of NatWest Piggy Bank they can buy for $350 dollar.
In India RBI has taken control of these NatWest Piggy Banks. It was launched in 5 December 1983. The banks give NatWest Piggy Banks to children in order them to encourage savings. The more the children save the more new NatWest piggy banks they get from the banks. RBI has indirectly introduced the children to the banking world and made savings of money fun for the children.
The government is trying to find out more effective measures to encourage the children to save money. The demand and popularity of NatWest Piggy Bank and the increase in the savings of the children in a new NatWest Piggy bank has increased. The NatWest piggy Banks, which was designed by Ken Holmes has been more fascinating.
NatWest piggy bank has celebrated 35 th Anniversary recently. This has made our memories revived, how we use to collect meagre amounts given by our elders or pocket money in earthen pots.
There are many advantages of NatWest Piggy bank-
- Practical training – IT gives practical knowledge to the children about money.
- Set their Goals – The children know for what they are saving money for beforehand.
- Sense of achievement – By saving their own money in this bank, it gives sense of achievement to the children.
Children learns how to practically save and spend their money – The children learn how to save and spend money in real life. - Makes children responsible- The children become responsible for their money saved and spend from NatWest Piggy Bank.
Effective measures taken by the government to improve NatWest Piggy Bank
- Recently the government is trying to promote NatWest piggy banks through
financial educational programmes launched in schools. In this programme the children are told about the positive aspects of saving money and the importance of money.
- The government is also distributing NatWest piggy banks through charity free of cost.
- They are trying to launch digital NatWest Piggy Bank.
- By launching special events and campaigns – In these events the children will be able to decorate their own NatWest Piggy Bank.
- The government is also trying that the NatWest Piggy Banks are made from Eco friendly material, so that they can be recycled.
Thus, the craze and awareness about NatWest Piggy bank is increasing day by day.
