Pan Asia Bank offers 5.5% interest rate for savings accounts

Monday, 6 July 2015 00:00 - - {{hitsCtrl.values.hits}}

Pan Asia Bank is offering the highest interest rate of 5.5% for its savings accounts through its flagship savings product ‘Champion Saver’.

This interest rate is amongst the highest for a savings account offered by licensed commercial banks in Sri Lanka.

Unlike in certain instances, a Champion Saver account holder will continue to enjoy the higher interest rate irrespective of the number of withdrawals made. Withdrawals could be made from any ATM which carries the ‘Visa’ logo.

He/she is only required to maintain an average monthly balance of Rs. 50,000 in order to be eligible for this higher interest rate. However the account could be opened with an initial deposit of Rs. 1,000.

In the case of the balance reaches below Rs. 50,000, the account holder will continue to receive the bank’s normal savings interest rate until he/she elevate the balance up to Rs. 50,000.

The account holder can either opt for a pass book or a monthly statements when opening the account but if he chooses the former, he will receive a specially designed pass book.

Apart from the higher interest rate, a Champion Saver account holder will also enjoy a host of other benefits such as visa debit card, SMS banking facility, internet banking facility and standing order facility.

A Sri Lankan resident over 18 years of age or foreign personnel with resident visa status can either walk in to any of the Pan Asia Bank’s 78 branch network spread across the country or through our online banking portal to open a Champion Saver account to obtain all the above benefits and many more introduced by the bank time to time.

Pan Asia Bank is BBB rated by Fitch Ratings Lanka Ltd. with a stable outlook and BBB+ by Lanka Rating Agency is testimony to the financial strength of the bank.

For the financial year ended 31 December 2014, the bank recorded a 265% growth in its net profits to post Rs.415.2 million.

Further, Pan Asia Bank was adjudged as the fastest growing commercial bank in Sri Lanka in 2014 by United Kingdom’s Global Banking and Finance Review.

At a time when the market interest rates are at all-time low, Pan Asia Bank’s Champion Saver provides an ideal investment opportunity with all the flexibility of a savings account.