Seylan Bank revamps Gold Loans, offering a higher value to customers

Business

Seylan Bank has taken measures to further reduce its Gold Loan rates to 0.79 per cent per month, one of the lowest interest rates in the market to ease the financial burden faced by consumers due to COVID-19.
As a result, Seylan currently offers the highest advance amount of Rs. 66,000 for a 24K sovereign with attractive repayment plans that range between 3 months to 1 year among the commercial banks, the bank said in a media release.
Understanding the need within the market for consumers to be able to obtain financial aid immediately with minimum documentation, Seylan looked into revamping the Gold Loan facility for its customers' urgent financial needs be it for personal or business purposes. The bank said it has already taken measures to enable a majority of its branch network with the required infrastructure and to train their staff to educate and help customers to obtain Gold Loan services.

The Gold Loan facility can also be obtained for small and medium business owners in the manufacturing industry to purchase machinery and equipment with no additional documentation, farmers and business personal in the agricultural field to purchase fertilizers and pesticides, young entrepreneurs looking to finance small business projects and young executives looking to finance their higher educational dreams.

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