LOLC Finance introduces credit card for pensioners, state sector employees
View(s):LOLC Finance – Sri Lanka’s largest Non-Banking Financial Institution (NBFI), has introduced a Credit Card named, Savi exclusively designed for pensioners and state sector employees across Sri Lanka.
The card was introduced as a part of LOLC Finance’s overall digitisation strategy which is in line with the Central Bank’s ‘2020 – Year of Digital Transactions’ plan to promote and create awareness on digital payments throughout the country.
The company said in a media release that the Savi Credit Card comes with a variety of offers and benefits exclusively for pensioners and state sector employees. The applicants are not required to pay the joining fee and the annual charges which makes their experience with the card much more rewarding. A special savings account with a free ATM card with zero charges on withdrawals and online transactions are among the many benefits offered with the Savi card. In addition, LOLC Finance has partnered with some of the country’s leading retail outlets to offer valuable discounts and offers to Savi cardholders. All offers, discounts and benefits as well as the balance amounts will be notified through an SMS, instantly.
Speaking about the launch of the new credit card, Conrad Dias, Director/CEO of LOLC Finance PLC and Director LOLC Holdings PLC said, “We believe, it is our duty to enable pensioners with a cashless journey with multiple benefits since they are the forefathers of our society. Our digitisation strategy has always been a definite competitive advantage that has placed us ahead of our peers at all times. Empowered with the payment card acquiring license, we are geared to create a digitally enhanced payment eco-system, facilitating financial inclusion while gaining a reputation as a true disruptor in the traditional credit card business. Aside from forging ahead with LOLC Finance’s digital transformation journey, I believe these efforts will complement Sri Lanka’s migration towards becoming a cashless economy”.
In addition, Savi Cardholders are eligible to apply for an instant loan to the maximum value of Rs. 2.5 million with approvals within 24 hours to fulfil any of their urgent financial requirements. Savi also comes with an added Cardholder Protection with nominee benefits.