Sampath Bank offers Special Low Interest Business Loans and Gold Loans to Businesses and Individuals

Sampath Bank is offering a host of special business loans and gold loans under its ‘Revive Sri Lanka’ initiative at a significantly low interest rate of 9% p.a.

The bank is now offering special low interest Sampath Diriya loans of Rs.10 million up to Rs. 100 million at 9% p.a. under the ‘Revive Sri Lanka’ programme. It includes capital loans for up to 120 months and working capital loans for up to 60 months. This is aimed at helping medium and large-scale businesses meet their business requirements as they strive to get over this period of economic uncertainty. The single-digit interest rate is lower than the average rates in the market for such advances. The bank has waived off processing fees and penalties on early settlements as well. Furthermore, customers can request for a capital grace period of 12 months on capital loans and 6 months on working capital loans, the bank said in a media release.

Sampath Bank has also introduced a 3-month Gold loan at a low interest rate of 9% p.a. to support individuals and small-scale businesses with their urgent cash requirements. This is again the lowest interest rate on gold loans in the market. All Sri Lankans can obtain this loan over the counter at their nearest Sampath Bank branch, in a matter of minutes. The bank is offering an advance of Rs. 65,000 per sovereign of 24ct Gold and Rs. 60,000 per sovereign of 22ct Gold.

“As a national bank, we have always been committed to driving economic growth by empowering individuals and businesses. We firmly believe that we have an added responsibility to stand by all Sri Lankans during these trying times and help uplift the economy. We will continue to work closely with all stakeholders on helping the economy and country emerge stronger from this unprecedented global crisis,” said Nanda Fernando, Managing Director, Sampath Bank.