People’s Bank supports higher education with ‘Wisdom Loan’
Friday, 30 May 2014 00:00
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The ‘Wisdom Higher Education Loan’ has been introduced by People’s Bank in order to encourage and support the students and aspiring youth of Sri Lanka in their endeavour to better themselves through higher education and fulfil their ambitions.
Irrespective of age or chosen career, the loan offers up to Rs. 10 million towards the completion of higher studies, vocational training and professional qualifications in a local or foreign institution. With flexible repayment schemes and access to the bank’s island-wide branch network, this is the ideal opportunity to pursue the diploma, first or post-graduate degree or professional and vocational qualifications that would bolster any resume.
Available on top of existing loans, the Wisdom Loan is a special feature of the bank’s ‘YES’ account (Young Executive Saver), which was introduced in 2013. With the existing ‘Sisu Udana’ children’s savings account automatically upgrading to ‘YES’ accounts at the age of 18, People’s Bank hopes to encourage the youth of Sri Lanka to pursue their dreams. The loan is, however, also available to anyone currently in employment and school leavers (with the joint application of a close relative).
People’s Bank Chief Executive Officer/General Manager N. Vasantha Kumar confirmed the bank’s commitment to the nation saying: “In our mission to be the bank of the aspiring people of Sri Lanka and contribute to the uplifting of education, the Wisdom Loan empowers people to add value to themselves and strive towards being competitive and self-reliant. The loan is available to people of any age, and we have taken measures to encourage prospective students through our existing youth accounts.”
People’s Bank has Sri Lanka’s largest branch network, with over 730 branches and over 420 ATM locations island-wide and includes mobile and internet banking amongst its facilities.
