Siyapatha Finance PLC, a fully-owned subsidiary of Sampath Bank PLC, has introduced ‘Siyapatha Fast Draft’, an innovative product designed to meet the immediate financial needs of customers.
The primary objective behind the launch of Siyapatha Fast Draft is to diversify the lending portfolio while providing customers with the convenience of accessing a range of financial products under one roof. This is expected to redefine the way individuals and businesses address their financial requirements efficiently and effectively.
‘Siyapatha Fast Draft’ offers a revolving loan that can be generated within a single business day with a 12-month tenure and a residual value, giving customers the flexibility to manage their finances over a longer period while addressing their urgent financial demands. At maturity, customers are given the option to renew the facility, enhance it, or settle the outstanding amount without incurring future interest.
Customers are only required to pay the interest portion for the disbursed amount, allowing them to make capital payments at any time without incurring extra charges, easing the burden on immediate finances.
‘Siyapatha Fast Draft’ has a streamlined application process, with minimum documentation requirements; this efficiency also extends to its quick approval process. Customers can withdraw money from the approved facility limit whenever required, providing them with ongoing access to funds as their financial requirements rise.
The Siyapatha Fast Draft has competitive interest rates on a variable rate basis, benefitting customers, aligning with their financial goals. The combination of low-interest rates, swift processing, and easy payment methods provides tangible value to customers with a holistic and accessible approach to managing their financial needs.
The Company’s product portfolio, consisting of leasing, personal loans, business loans, gold financing, fixed deposits, savings and factoring (debt financing) operations, is designed to ensure that its customers are provided with the best in service delivery standards.