Seylan Bank took measures to further reduce their gold loan rates to 0.79 percent 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, the Bank currently offers the highest advance amount of 66,000 rupees for a 24 karat sovereign with attractive repayment plans that range between three months to one year. Understanding the need within the market for consumers to be able to obtain financial aid immediately with minimum documentation, team Seylan looked into revamping the gold loan facility for their customers’ urgent financial needs be it for personal or business purposes.
The Bank has already taken measures to enable a majority of its branch network with the re- quired infrastructure and to train their staff to educate and help customers to obtain gold loan services.
Seylan Bank is known to be a customer-centric financial organization working towards a common goal of financially uplifting its customers, analyzing the financial constraints consumers are facing due to the pandemic. Team Seylan has introduced the loan facility to strengthen its customer base with the opportunity to utilize their gold assets to obtain working capital loans to revamp their businesses. The reduced interest rates and the high advance amount offered by the Bank will help consumers fund emergency cash needs such as urgent medical expenses, educational expenses and cash needed for urgent household needs.
The gold loan facility offered by the Bank can 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, as well as for young entrepreneurs who are looking to finance small busi- ness projects and young executives looking to finance their higher educational dreams.
Seylan Bank confirms the highest level of safety and privacy to all its customers who wish to obtain the gold loans through the bank.