LOLC Al-Falaah, the alternate Financial Services Unit of LOLC Finance PLC, has introduced another pioneering savings product with a host of features and benefits to suit the needs of its diverse clientele. Mudharabah Super Saver account (MSS), LOLC Al-Falaah’s latest savings product addition offers an exceptional benefit of a ‘bonus profit share ratio’ up to 15 percent from the standard profit sharing ratio for the money saved.
Al-Falaah Mudharabah super saver account offers a ‘Super bonus profit share ratio’ to Al-Falaah’s customers based on their progressive savings discipline. The Al-Falaah Mudharabah Super Saver account comprises six saving tiers of step-up ‘Super bonus profit share ratio’ where the customers could choose to maintain their savings balance from. This savings account comes with unlimited deposit and withdrawal limits with no penalty or conditions imposed on withdrawals, the company said in a media release.
The MSS is offered with a fully integrated passbook and the option of free-registration to LOLC Real Time Internet banking, international Visa Debit card, island-wise ATM coverage and access via iPay digital banking giving accountholders convenient access to savings both locally and overseas. Other benefits include, free online transfers, higher safety and security with higher returns on a monthly basis.
Commenting on the new offer, Shiraz Refai, Deputy General Manager of LOLC Al-Falaah said, “This unique savings account is designed to encourage progressive savings, thereby rewarding the habit of savings. The bonus profit share ratio is allocated based on the several tiers of the super savings account balance, where the depositors are motivated to reach their specific amount of target-savings while enjoying a tiered higher return that will fast-track reaching their savings goal. Usually to receive higher returns for deposits, the investor has to opt for a longer fixed-term option. But for the depositor who wants the benefit of instant access to cash and does not want to lock-away investments for a longer period and also expect a higher return in the short-term, this product is aptly suitable.”
You can share this post!
Content
The Judicial Service Commission (JSC) has interdicted Colombo Fort Magistrate Kosala Senadheera.
Mr. Ali Sabri Rahim, a Member of Parliament (MP) for Puttalam District whom an open warrant had been issued, attended a public ceremony at Al Aksha National School in Kalpitiya today (16) as the special guest of honor.
The Supreme Court today refused interim relief in an application filed by President’s Counsel Senaka Walgampaya seeking an Order from the Supreme Court compelling the President to appoint judges to fill the existing vacancies in the Court Of Appeal.
The deadline for online applications to the 2024 G.C.E. Advanced Level (A/L) Examination has been extended until July 12, the Department of Examinations said.
Gazette on new speed limit regulations to be issued within two weeks
Cabinet has approved a proposed amendment to the Constitution that a referendum would be required to extend the Presidential and Parliamentary term beyond five years.
Leave Comments