Seylan Bank launches “Seylfie” youth savings account to empower youth

Yet again revolutionising the banking industry in Sri Lanka, Seylan Bank has launched a state-of-the-art digital bank account for the youth of Sri Lanka named Seylan Seylfie.

A brand new youth account experience for those between 18-26 years, Seylan Seylfie offers unique benefits for its tech-savvy target group. Seylan Bank has partnered with the country’s leading telecom provider Dialog Axiata Plc to offer various digital benefits for this data-loving customer segment. 

With Seylan Seylfie, the bank has pioneered the ‘digital interest’ concept, which is a world first between a bank and a mobile operator, with interest on savings accounts credited directly to Dialog mobiles of youth account holders as a top-up for data, voice etc. if the account holder so wishes.

The Seylan Seylfie chip-based debit card offers an array of benefits and discounts while shopping, dining or holidaying. Seylan Seylfie offers free cash grants of up to Rs. 25,000 to account holders on turning 21 and on completion of a graduate degree or professional qualification, which adds immense value to the account holder based on the account balance. Student, educational and other business loans are also available at attractive rates. 

Further, youth could open a special current account with a customised cheque book as well, subject to complying with a few conditions. A special credit card is also offered if youth earn a monthly permanent income of over Rs. 15,000 and is designed to give youth the flexibility to spend responsibly.

Leveraging on the age group’s love for social media, Seylan Seylfie also offers Social Banking via Facebook. Account holders who register for Seylan internet banking can log in to their Facebook profile and use the Seylan Social Banking App with convenient benefits such as Pay-a-Friend, balance inquiries. This feature also allows you to pay mobile and other bills and carry out other convenient banking services. 

Seylan Bank Director/CEO Kapila Ariyaratne commented: “Despite the fast and ever changing nature of customer needs as well as financial product offerings, Seylan Bank has been able to unerringly differentiate its positioning through its commitment to dynamic innovation and customer-centricity and has committed itself to tread a brave new path in digital banking to offer an exceptional online user experience. We are poised to invest further in the digital sphere to launch innovative products catering to the emerging needs of the customers. Seylan Seylfie is the latest product innovation from Seylan Bank that makes banking a fun filled and attractive experience for our young adults. Simultaneously, the account will encourage them to save and aspire for a better and more financially secure future and we look forward to continuously interact and improve our offerings to this segment of our clients who are the future of our country.”

DGM Marketing and Personal Banking Tilan Wijeyesekera said: “We are extremely pleased to launch Seylan Seylfie as a truly trailblazing product that fuses today’s young adults need for convenience through technology and dependence on social media and interactivity, together with the need to invest and save for their future in a manner that fits their fast-paced lifestyles. This unique digital and social proposition aims at delivering a true value addition to the lives of our customers by delivering a seamless experience of banking as well as lifestyle needs. The product was based on the in-depth research carried out amongst our young customers and led us to collaborate with Dialog Axiata - known for their cutting-edge telecom solutions - to launch this truly unique product proposition which we are confident would be a game-changer in the youth savings market in Sri Lanka.”