People’s Bank further reduces interest rates on gold pawning

Tuesday, 9 September 2014 01:09 -     - {{hitsCtrl.values.hits}}

As a leading contender in Sri Lanka’s pawning services arena, People’s Bank has further reduced its interest rate on gold pawning. In a statement the Bank said the gold pawn interest rate on People’s Bank’s ‘Swarna Pradeepa’ has been brought down to 12% while the cash advance for a sovereign has been increased to Rs. 32,000. Customers can avail themselves of this service with no hassle at any of the 735 People’s Bank branches island-wide and repayments can be made in installments at any People’s Bank branch. Furthermore, pawn balance inquiry and informing prior to settlement can be performed anywhere, anytime through People’s Mobile Banking and Internet Banking. In the year 1963, People’s Bank introduced the gold pawning service to the local banking sector. By offering gold pawning at a reasonable interest rate together with the security of a State bank, People’s Bank took the initiative to bring relief to all Sri Lankans at a time of financial need. Longstanding experience, high confidentiality, the security of a State bank, high cash advance amounts and friendly and efficient customer service has enabled People’s Bank to claim the highest stake in the local gold pawn loan services market.