Table 6.

Randomization-based Omnibus Joint Significance Tests: All Outcomes (p-values)

	(1)	(2)	(3)	(4)
Outcome Variable	Financial Education	Monthly Reminder	Semimonthly Reminder	Joint Treatments
Intervention period: Months 1–12
Net Balance	0.248	0.003	0.001	0.041
Cumulative Deposits	0.277	0.601	0.087	0.691
Cumulative Number of Deposits	0.386	0.157	0.088	0.412
Cumulative Withdrawals	0.563	0.002	0.014	0.085
Cumulative Number of Withdrawals	0.026	0.012	0.022	0.239
Post-Intervention Period: Months 13–20
Net Balance	0.590	0.173	0.025	0.137
Cumulative Deposits	0.549	0.984	0.099	0.733
Cumulative Number of Deposits	0.665	0.835	0.103	0.891
Cumulative Withdrawals	0.183	0.600	0.351	0.713
Cumulative Number of Withdrawals	0.915	0.981	0.168	0.952

Notes: Table presents the randomization pvalue of the Omnibus Test of Treatment Joint Significance for each treatment separately (columns 1, 2 and 3) and any treatment jointly (column 4) obtained from of OLS estimation models that include branch and opening month fixed effects to account for the stratified random assignment design and control variables include age, strata dummies, education level dummies as in Table 1, gender and migrant status of accountholder, with standard errors clustered at month of opening by bank branch. We use randomization inference and re-randomize 2,000 times treatment assignments across participants within each randomization strata as suggested by Young (2018).