Sammana account holders can obtain pension on any day they wish: Pan Asia Bank DGM
A few years ago, banks were not very keen on giving out loans to pensioners. Pan Asia Bank realizing this problem set an example for the whole country by coming forward with the Sammana pension loan scheme.
We realized that these individuals who have basically given their lives to serve Sri Lanka still had much more to contribute towards economic development of their country.
We also realized that these individuals had a strong desire and an ability to carry on their lives without being a burden to the country or their own children. It is in light of those reasons that we introduced the Sammana pension loan scheme.
This scheme enables a pensioner to divert his/her pension to Pan Asia Bank and obtain a loan of up to 2 million.
A special feature of this account is the fact that the loan repayment period could be extended up to 10 years. Another unique feature of this loan is that it does not require guarantors.
By now, we have facilitated a large number of loans. This has helped many pensioners earn an additional income through selfemployment.
The fact that these people don’t become a burden to anyone and have the ability to financially support their children and contribute positively to the national economy is source of great pride for us. There are also some who obtain this loan to fulfil their duties towards their children such as bearing the cost of their weddings. Then there are others that utilize this loan scheme to go on pilgrimages. Another special feature is that they get an insurance cover when they take a loan.
Therefore, in an unfortunate event of the demise of a loan applicant, rest of the family is protected as they are not burdened with the repayment of the loan.
The pension is received on a predetermined day of the month. If a financial emergency arises between two pension payment dates most people find themselves in quite a difficult state.
To help in emergencies such as these, we have introduced a facility by which an interest-free pension advance may be obtained at a nominal fee. As a result, a pensioner could obtain an advance on their pension on any day by visiting any branch of the bank. The maximum a person may borrow through this service is Rs. 30,000 and the minimum is Rs 5000.
Apart from the above mentioned benefits, we have also introduced a discount scheme for Sammana accountholders.
As a result, they can enjoy great discounts at selected bookshops, opticians and insurance companies etc.
Government pensioners under age of 70 with a monthly pension of Rs. 10,000 or more may instruct their pension to be credited to a Pan Asia Bank Sammana account to avail themselves of those benefits.
Customers can call the bank’s 24x7/365 customer contact centre on 0114 667 222, or they can visit any Pan Asia Bank branch to get more details.