NDB Bank launches interest free loan scheme

The NDB Bank said this week it was launching a unique Savings Account ‘Vishmitha’ which offers account holders an interest free loan of up to 75% of the average savings balance maintained in the account, once in every 12 months.

Deputy Chief Executive of the NDB Bank, Eran Wickramaratne said that this first-of-its-kind savings account is designed to support the savings habit among the Sri Lankan populace and give it a totally vibrant new dimension. “We’re endowing the traditional Savings Account with a revolutionary feature of interest free loans which appeals to a massive slice of the masses who still continue to have an unwavering trust in Savings Accounts as their main thrift instrument,” he said in a statement.