Sampath Bank lends up to Rs.2 mn to retired government servants

Continuing to lend its support to government retirees, Sampath Bank scaled up the benefits being offered to them under the Sampath Samachara Government Pensioners Loan scheme.

The bank has raised the upper limit on this unique loan designed specifically for government retirees to Rs.2 million.

The maximum repayment period too has been extended up to 10 years. Sampath Bank is also rewarding them with gifts with each loan above Rs. 100,000 in appreciation of the services they have rendered to the nation.

Having worked hard all through their lives, pensioners may find themselves to be short of funds when it comes to fulfilling their needs and dreams or those of their loved ones. Be it a child’s higher education, a wedding; or an overseas pilgrimage, they could always use some additional money. The enhanced loan limits, extended repayment period and hassle free processing, make Sampath Samachara the ideal choice in such situations.

“Monthly pension payments are the primary source of income for a vast majority of retired government servants. Having dedicated most of their lives to serving the public, they may find themselves being unable to fulfil their dreams in their golden years. Saluting retirees for the services rendered to the nation, we at Sampath Bank, seek to provide them with the funds needed to meet such additional expenses through the Sampath Samachara Government Pensioners Loan scheme,” said Tharaka Ranwala, Senior Deputy General Manager - Consumer Banking, Sampath Bank PLC. “We are now offering loans of up to Rs.2 million at the lowest interest rate in the market for such advances and have extended the repayment period up to 10 years too. This together with our exemplary service levels make it the perfect choice for retired government servants.”

The applicants need to get a simple insurance cover for the loan amount and remit their pension to any Sampath Savings or Current account or a Sampath Sanhinda Saver account. Offering a higher rate of interest on savings to those over the age of 55, the Sanhinda Saver account makes interest payments twice a month and provides retirees with a world of other unparalleled benefits and privileges.

Applicants can obtain a Sampath Samachara loan, which is open to all retired government servants under the age of 70 with a monthly pension of Rs. 15,000 or more, without any security, collateral or guarantors.

“At Sampath Bank, we strive to uphold uniquely Sri Lankan values and belief systems while offering innovative financial solutions. The Sampath Samachara Government Pensioners Loan scheme draws inspiration from our tradition of caring for elders and is an expression of our gratitude to retired public servants who have done great service to the nation,” said Thusitha Nakandala, Deputy General Manager – Branch Banking, Sampath Bank PLC.

“We have now overhauled the loan with higher limits and extended settlement periods to offer greater value to them. We are delighted to offer them gifts with every loan above Rs. 100,000 as a token of our appreciation. They can also avail a host of other benefits and privileges aligned to their lifestyle by opening a Sampath Sanhinda Saver account linked to the loan. Together, the Sampath Sanhinda Saver account and the enhanced Sampath Samachara Government Pensioners Loan scheme will help brighten their lives.”

Thus, with higher maximum loan limits and repayment periods together with the lowest interest rate for such loans in the market, the revamped Samachara Government Pensioners Loan scheme presents itself as the ideal cash advance proposition to help retirees meet additional expenses. This becomes all the more valuable during the holiday season when they would be looking to indulge themselves and their loved ones. Sampath Bank has made it even more appealing by offering valuable gifts including foldable chairs and food containers with every Samachara loan over Rs. 100,000, during this period.