Seylan Bank, The bank with a heart, took measures to further reduce their Gold Loan rates to 0.79% per month,one of the lowest interest rates in the marketto ease the financial burden faced by consumers due to Covid-19. As a result, Seylan currently offers the highest advance amount of Rs. 66,000 for a 24K sovereignwith attractive repayment plans that range between 3 months to 1 year among the commercial banks.
Understanding the need within the market for consumers to be able to obtain financial aid immediately with minimum documentation, team Seylanlooked into revamping the Gold Loan facility for their customers’ urgent financial needs be it for personal or business purposes. The Bank has already taken measures to enable a majority of its branch network with the required infrastructure and to train their staff to educate and help customers to obtain Gold Loan services.
Team Seylan introduced the Gold Loan facility to strengthen its customer base with the opportunity to utilize their Gold assets to obtain working capital loans to revamp their businesses.
The reduced interest rates and the high advance amount offered by the Bank will help consumers fund emergency cash needs such as urgent medical expenses, educational expenses and cash needed for urgent household needs.