Multi Finance introduces ‘Suraksha’ and ‘Muthuhara’ savings accounts

Monday, 30 June 2014 00:00 - - {{hitsCtrl.values.hits}}

Multi Finance PLC (MFP), a premier financial services provider in the industry has revamped its savings product in order to give the maximum benefits to the customer. The main intention of this is to inculcate the savings habits among the public in Sri Lanka. Their general savings account ‘Suraksha’ will offer very high interest rates and includes many benefits to customers over 18 years of age. Minor savings accounts have been relaunched by the name of ‘Muthuhara’ minor savings accounts” with many value added benefits to its young cliental.

Adding more benefits to Muthuhara children’s accounts, Multi Finance gives the opportunity to open an account for a minimum of Rs. 300 for school children, where a company’s financial executives are willing to give a personalised service to increase savings habits among school children. Among these benefits the most attractive is the special hospitalisation insurance cover offered for the account holder. Under this insurance cover if the account holder (minor) is hospitalised the cost of in-house medical care will be fully taken care of up to an agreed limit. Further, the minor account holder will be offered a host of other benefits such as financial assistance on significant events of the child’s growth. Eg: Grade 5 scholarship, loan for higher education, and financial gifts for O/L results. In addition to this island-wide seminars on guiding for child’s education will be organised periodically based on its branch network where holders of Muthuhara savings accounts could participate free of charge. The Suraksha general savings account was introduced to develop the saving habits of people offering a higher interest rate along with many other attractive benefits. Savings accounts could be opened with a minimum of Rs. 500 and senior citizens over 55 years could earn an additional 1% interest rate. Suraksha savings account holders are also offered host of other benefits such as loans at a lower interest rate, insurance schemes, investment planners, financial assistance on special occasions in life etc. Although there’s no restrictions for withdrawals, MFP encourage its valued customers to maintain the thrift habit, which is rewarded with a competitive but secured interest rate in accordance to the interest rates as directed by the Central Bank of Sri Lanka. Adding more value to Suraksha savings accounts, the company offers fringe benefits such as transferring of funds, accepting standing orders, instant cash withdrawals at any branch situated island wide etc. Money accumulated in Suraksha accounts could be easily converted into a fixed deposit at any time which offer higher interest rate. MFP is a registered finance company with Central Bank of Sri Lanka and a public quoted company listed on the Colombo Stock Exchange. MFP was established in 1974 and has in business for the past 40 years with an unblemished record. The company operates from Colombo and has branches in Kandy, Gampaha, Kurunegala, Matara, Ratnapura, Anuradhapura and Maradana. The principal business activities of the company are; acceptance of deposits, lending activities such as leasing, hire purchase, business loans, revolving loans, pawning, importing of vehicles and micro finance.