DFCC Vardana Bank woos senior citizens

By Shabiya Ali Ahlam

Honouring the senior citizens of the nation, DFCC Vardana Bank (DVB) is launching the Vardhana Garusaru senior citizens savings account at its 129 branches and extension offices island-wide.

The savings account is the first of its kind for DVB and the product will cater exclusively towards the requirements of Sri Lanka’s senior citizens. Eligibility criteria to be a holder of the savings account include being 55 years of age and to have a minimum deposit of Rs. 10,000.  An interest rate of 7.5%, a 3.5% higher interest than the normal savings floor rate, will be offered to the customers of this savings account.

Depositors, on reaching Rs. 50,000 deposit value, would be entitled to a complimentary gift voucher which will be redeemable at the DVB partner companies: Asiri Group of Hospitals, Vision Care and Sarasavi bookshop. The Rs. 50,000 deposit milestone would also give account holders the opportunity to join the DVB loyalty program which offers a host of benefits and concessions with DVB’s partner organisations.

Few of the benefits offered include discounts on medical bills, discounted prices on spectacles and sunglasses, discounted offers on books, magazines and publications, as well as exclusive admissions to seminars and medical camps by invitation. Along with the plethora of benefits that are offered with the senior citizens savings account, a complimentary gift, DVB branded hand luggage, awaits all new Garusaru customers.

DFCC Vardana Bank CEO Lakshman Silva stated that the Garusaru savings account was conceptualised to honour the senior citizens segment Sri Lanka who have toiled, laboured and grown Sri Lanka over the years. “We have tailor made a product that understands that senior citizens require security, peace of mind and self sufficiency,” he said.   The high interest rates being the key feature the bank’s pioneer offering, Silva said that the strategic tie-ups DVB has made with its partner organisations serve to provide a richer banking experience specific to the needs of the identified demographic. Silva further added: “We at DVB provide our seniors with a product that is reliable, transparent, easy to understand, and above all, one that offers utmost safety and security for their saving fee.”

DVN, which currently has a AA+ Fitch rating aims at bringing in Rs. 1 billion worth of deposits by the end of 2013 through this newly launched product. DVB also plans on enhancing this product by partnering with other revered establishments that will provide to the needs of this customer base.

Pix by Daminda Harsha Perera