“Built-it” Fixed Deposits from UB Finance
Delivering on its promise to offer “a better deal” to customers, UB Finance announced the launch of the “Builtit” fixed deposit account in October 2017. In an interview with the Director / CEO, Mr. Ransith Karunaratne speaks of the unique features of the product and its benefits.
What makes “Build-it “different from other fixed deposit products?
“Build-it” is a revolving one month fixed deposit that can be opened with a minimum deposit of Rs. 10,000/-. It is a unique value proposition for salaried individuals and average savers who wish to accumulate a sizable cash build up for the purchase of an asset or a life event based on their monthly income, with maximized returns.
How does “Build-it” work?
A salaried individual or an average saver does not have the ability to save a large amount at once. “Build-it” affords the average individual an opportunity to set aside a fixed amount each month, building towards a set investment target enabling them to aim at a life event such as an overseas holiday, education, wedding expenses or the purchase of an asset like a phone, a car or even a house, which is what most people naturally desire.
What are the unique features of this product?
Once the “Build-it” fixed deposit is opened, customers can build on their investment monthly through a standing order instruction to grow their investment consistently. These customers are entitled to a higher interest rate in comparison to normal savings account. They are also entitled to compounding interest on their “Build-it” deposit. The customer can either access their money at the end of the one month period or allow it to roll over for another term. So whether you are saving towards a short term goal of a phone, an overseas holiday or to purchase household goods, a midterm goal such as a wedding or a master’s degree or a long term goal of a car or house or even retirement, “Build-it” from UB Finance is a hassle free financial solution to achieve your dreams.