Seylan ups interest rates for senior citizens

Friday, 7 October 2011 00:43 - - {{hitsCtrl.values.hits}}

With the well being of senior citizens at heart, Seylan Bank offers an array of benefits for senior citizens in recognition of World Elders Day which fell on 1 October 2011.

The said benefits are on offer to cater to the senior citizens who have served the country for a significant number of years and are looking forward to investing their earnings with a view to obtaining the maximum benefit, so as to enjoy their retirement.

Seylan Bank now offers an enhanced interest rate of 2% above the normal interest rates for senior citizens over 65 years, who invest in three-year fixed deposits under the monthly interest option.

Senior citizens of over 55 years, investing their money in Fixed Deposits and drawing the interest monthly, are entitled to an enhanced interest rate of 1% above the Bank’s normal interest rate, irrespective of the period of investment (i.e. for fixed deposits of one month or one to five years).

In addition, Seylan Bank extends its helping hand to senior citizens who invest in a four or five year Fixed Deposit, by rewarding them with free vouchers in the first year of investment, to the value of 0.1% of the deposit, to pay Utility Bills and to meet their high cost of living expenses.

Furthermore, an instant loan of up to 90% of the fixed deposit or in the alternative a Seylan credit card with a credit limit equal in value to the deposit could be obtained at any given time. Special interest rates are valid for each investment in fixed deposits from 17 August to 15 November 2011.

These unique privileges and features could be availed of by senior citizens from the islandwide network consisting of 131 banking centers, which operates with extended hours of banking during week days and Saturdays or Sundays till 12 noon.