Thursday, 13 March 2014 00:00
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Living up to its unique business proposition of ‘A Versatility of a Finance Company backed by the strength of a Bank,’ UB Finance Company Ltd. added yet another exclusive investment solution to its product portfolio by launching the ‘Save n Shop’ fixed deposit.
At the launch, UB Finance Chief Executive Officer Ransith Karunaratne stated this exclusive investment proposition offers its customers upfront interest on the fixed deposit, while holding their capital intact. Investors enjoy an attractive rate of interest and customised terms to match their cash flow requirements.
He invited customers to take advantage of this innovative product especially during the upcoming Sinhala and Tamil New Year Season where they can utilise the upfront interest obtained on their fixed deposits to enjoy shopping and other festivities without touching their savings.
He further stated that UB Finance has established itself as a strong brand in the financial services sector over that past year and had steadily grown its client base as a direct outcome of its aggressive and unique business strategy. Product development is part of this business strategy and the ‘Save n Shop’ FD is a timely addition which will enable customers to maximise their cash during this festive season.
UB Finance Chief Operating Officer Suresh Kadiah elaborated on the features of the new product and the reason for introducing same at this juncture, stating that a ‘Save n Shop’ account could be opened with a minimum initial deposit of Rs. 50,000 and that the tenor could vary from three to 60 months and that a ‘Save n Shop’ FD could be opened at any one of the UB Finance branches located island wide.
He further stated that UB Finance is in the process of introducing many more unique and exciting products to enhance its product portfolio and offer its valued clientele an array of financial solution to suit their specific requirements.
UB Finance was formed by Sri Lanka’s premier financial institution, Union Bank of Colombo PLC, and its US-based Strategic Investment Partner, ShoreCap II Ltd., making it the first finance company to be owned by a private sector commercial bank.
