Capital Alliance Finance offers 14.5% interest to short-term depositors

Monday, 5 March 2012 00:00 - - {{hitsCtrl.values.hits}}

Capital Alliance Finance Plc (CALF), a subsidiary of Capital Alliance Group, has announced the introduction of a new amazing fixed deposit plan that offers a record 14.5% p.a. interest on a six month fixed deposit, in a bid to assist short term investors seeking a quick return on their investment.

CALF Deputy General Manager Pushpike Jayasundera said: “Many of the fixed deposit schemes available today are medium to long term investor friendly whilst short term investments are not benefited. Considering the present market conditions we wanted to offer a benefit to our customers by offering a higher interest rate for a shorter period. Not only do we offer the highest interest rates of 14.5% p.a. for short term deposits, but we also extend many attractive schemes to suit investors of any investment horizon.”

Apart from this, he added that CALF is a company in existence for three decades, winning the trust of the deposit holders.

The company, which was previously known as People’s Merchant Finance Limited was subsequently acquired by Capital Alliance Holdings Limited.

The Capital Alliance Group, which primarily offers fully fledged investment banking solutions consists of Capital Alliance LTD, Capital Alliance Securities (Pvt) Ltd., Ceylon Tea Brokers PLC, Capital Alliance Investment Limited. Capital Alliance Finance is a registered finance company under the Monitory Board of Central Bank of Sri Lanka and a public quoted company in the Colombo Stock Exchange.

With over 30 years of experience in the financial services industry, the company has steadily grown to be a reliable and trustworthy financial service provider. The Company is primarily involved in the business of accepting deposits, extending finance lease facilities, hire purchase facilities, margin trading, business loans and micro financing.

“We have always been a company that honored our promises to our customers, even when the country was afflicted by war and recession. This is why many of our customers have remained loyal to us, since our inception 30 years ago,” Jayasundera added.

CALF has a fully fledged IT system, integrating operations and providing customers a better quality service with faster processing times. In addition, the system will be used to provide the management with reliable and detailed analysis of lease, hire purchase, loan and deposit portfolios, to maintain records as well as ensuring compliance with legal and statutory requirements. Further CALF is in the process of upgrading the existing IT system to provide world class service to its customers.

CALF’s operations currently include accepting deposits, providing leasing and hire purchase facilities against registered and un-registered motor vehicles, margin trading facilities and extending business loans to small and medium term entrepreneurs. The company intends to expand its branch network and accelerate its growth in the coming financial year by becoming a medium term financial powerhouse in Sri Lanka.