Sampath Bank, the growing force in Sri Lankan financial services recently announced the launch of it all new Sampath Sevana housing loan scheme. Featuring many unique characteristics in comparison to offerings from their competitors, the Sevana housing loan scheme will offer the most flexible and convenient repayment methods in the market, living up to the rest of the bank’s products.
As the per capita income in Sri Lanka escalates, coupled with the changing patterns of consumption and saving, the demand for housing loans in the country are constantly on the rise. The increase of disposable income levels has also generated the need for housing loans. As Sampath Bank is an entity that understands the requirements of the market, this new housing loan scheme will enable customers to take a higher loan amount with a reduced repayment capacity. This also includes customised and flexible repayment methods in comparison to a traditional housing loan.
Customers can use the following methods to repay their Sampath Sevana housing loan:
- Pay only the interest for the first five years and pay the balance in equal instalments
- Pay in incremental instalments with the lowest first
- Pay only the interest for the first five years and pay the balance in tailor-made instalments
- Pay the total loan (100%) as a final instalment (max. tenure of five years)
- Pay 50% of the loan in equal instalments and pay the balance 50% as the final instalment (max. tenure of 10 years)
Customers can also opt to use all the mentioned repayment methods if they prefer. These unique and hassle-free repayment methods mean that for the first time, young professionals and executives whose income is already committed to other loans and leases will have the ability to repay their Sampath Sevana loan with ease. This stands as a testament to Sampath Bank’s commitment to promote individual development while promoting innovation and value for its customers.
The Sampath Sevana housing loan will no doubt change the way people of Sri Lanka view a housing loan. With a firm understanding that the meaning of a housing loan differs from person to person, picking the repayment method most suited to the customer is something that Sampath Bank has pioneered. Thus, any existing or potential Sampath Bank customer can walk into any branch to make the first steps of turning their dream home into a reality.