Seylan ups interest rate on FDs to 15%

Seylan Bank yesterday announced it has increased interest rate on fixed deposit upto 15%.

“The enhancement has been effected to give maximum benefit to citizens who wish to invest their hard earned funds,” the Bank added.

For this purpose customers can now invest their savings in a fixed deposit and draw interest on a monthly basis at an interest rate of 13% (1 year), 12.25% (2 years) and 11.75% (3 years) or alternatively make investments for periods of 1 month(12%), 3 months(13%), 6 months(12.5%), 1 year(14%) or even stretch the investment up to a period of 5 years(15%).

Seylan Bank further extends its services to customers who invest in a 4 or 5 year Fixed Deposit by rewarding them with free vouchers in the first year of investment, to the value of 0.1% of the deposit, to pay utility bills in order to provide some relief towards the high cost of living.  Furthermore, an instant loan of upto 90% of the Fixed Deposit or a Seylan Credit Card could be obtained at any given time.

In addition, to cater to the Senior Citizens who are aged above 55 years, having served the country for years and looking forward to investing their earnings with a view to obtaining the maximum benefit, are offered an additional 1%, over and above the Banks normal interest rate on the monthly interest option. The scheme specifically caters to the Senior Citizens Category, so as enable them to enjoy their retirement.

The customers can be offered banking services from Seylan’s island wide network of Branches and Banking Centers, during weekdays and over our extended banking hours and at weekends till 12.00 noon.