Seylan Bank Customers Affected By COVID-19 to Benefit from Host of Relief Measures

Seylan Bank, the bank with a heart, has initiated a host of financial relief measures for all customers during these times of economic unpredictability. The Bank’s measures are fully compliant with regulations imposed by the Central Bank of Sri Lanka in light of the COVID-19 crisis and aim to ensure the financial health of its institutional and retail customers.

Institutional clients in the SME, Tourism, Apparel, IT, Plantations sectors, related logistic service providers, and other exporters eligible for the 6-month debt moratoriums in accordance with the Central Bank circular dated March 23, 2020, will be able to benefit from it. Seylan Bank has also taken measures to offer an extension on loan repayments for up-to two months for loans due in March 2020 to benefit customers who are not falling into the aforesaid categories. Team Seylan is geared to support customers who seek working capital loans at low-interest rates for business expansion & growth and extends its continuous support to ensure timely processing of salaries, remittances and international trade transactions in a bid to aid business owners affected by the present economic situation.

In order to benefit from these relief measures, all eligible customers were requested to submit a written letter to their Branch Manager or Relationship Manager or visit www.Seylan.lk/moratorium to submit a request online, before the 30th of April 2020. Further advisory services on debt moratorium and debt restructuring are also set in place via Seylan Bank’s Area Managers, Branch Managers, Relationship Managers, and Credit Hubs.

Seylan Bank has put in place a 3-month debt moratorium for all Personal loans, Housing loans & Leasing facilities of up to Rs. 1 million understanding the financial constraints on individuals at this juncture. Private sector non-executive employees can also benefit from a debt moratorium on personal loans until the 30th of May 2020. Self-employed persons with existing leasing facilities with the bank will be granted a six-month debt moratorium on lease rentals for three-wheelers, school vans, lorries, small goods transport vehicles, and buses to ease the financial pressure on them due to loss of income.

Cardholders will only be charged 15% on local transactions up-to Rs. 50,000 and the minimum monthly payment is reduced to 2.5%, with all Seylan Bank Credit Cards receiving an extended repayment period until the 30th of April. Individuals who have pawned items at Seylan Bank with due dates for settlement or maturity falling on or before the 25th of March will receive an extended period to settle the dues until the 30th of September 2020. The bank also announced that late payment fees on Credit Cards and Personal loans will be waived off until the 30th of September 2020.

In addition to providing immediate financial relief for customers, Seylan Bank has taken steps to provide ongoing benefits for Seylan Credit & Debit card customers who order essential goods deliveries via PickMe & Uber Eats by waiving off delivery charges on the first four deliveries. The bank has also deployed Mobile POS (M-pay) machines for essential delivery merchants and made arrangements for pensions to be delivered to senior citizens via selected Seylan Branches, in order to minimize the spread of infection.

Seylan Bank advises all customers that have any queries with regards to any of the above measures to visit www.seylan.lk or get in touch through the call center on 011-200 8888 or via WhatsApp on 077 200 88 88. Customers may also visit the nearest branch while adhering to the current safety measures that are in place.

As a bank with a heart committed to offering customers a convenient banking experience Seylan Bank will continue to upgrade and implement improved services, honouring customer needs to the utmost while ensuring customer satisfaction & safety during these times of uncertainly. Seylan Bank’s island-wide network of 217 ATMs, 70 cash deposit machines, and 49 cheque deposit machines are active 24/7 for customers with any urgent financial service requirements.