Investment via Fixed Deposit Bond option from Lanka ORIX Finance
View(s):Lanka ORIX Finance PLC (LOFC) recently introduced a new investment product named “Fixed Deposit Bond” to its new and existing clientele, a media release issued by the company stated.
It said this is the first time that a transferable term investment product has been introduced to the financial services sector in Sri Lanka.
“The Lanka ORIX Finance Fixed Deposit Bond is a secure and long term investment option, which yields higher returns whilst making it an easy and hassle-free financial product, which can be used in any number of transactions or for ownership transfers, the company stated. As its first step, the company has made this product widely available to the Individual and Corporate customer segment for a 3-5 year term on fixed interest rates,” the release said.
This product is a tradable instrument and can even be gifted, the release noted adding that Lanka ORIX Finance Fixed Deposit Bond can be transferred or sold to a 3rd party anytime between the date of deposit and maturity, whilst maintaining the original investment value intact.
Brindley de Zylva, Managing Director/CEO of Lanka ORIX Finance said, “The difference between a regular Fixed Deposit and the Fixed Deposit Bond is that ownership can be transferred without impacting the conditions applicable at the time the deposit was made”.
Explaining further Ms. Roshani Weerasekera, Deputy General Manager Marketing (Savings and Deposits) said, “The most convenient aspect of the Fixed Deposit Bond is that it acts as an instant transferrable instrument, which means that the transaction itself does not require actual cash being exchanged; this guarantees that your hard earned money is handled and maintained in a safe and transparent manner. Certain mandatory protective measures are also put in place to ensure that even if the certificate is misplaced or stolen, the customer’s investment continues to be intact and safe with us.”