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06 April, 2015 07:47 AM Source: Financial Times - Sri Lanka
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Pan Asia Bank offers the highest interest rate of 5.5% (AER5.65%) for savings deposits through its flagship savings product ‘Champion Saver’.
This interest rate is amongst the highest for a savings account offered by licensed commercial banks in Sri Lanka.
A unique benefit afforded by Champion Saver to account holders is that they continue to enjoy the higher interest rate irrespective of the number of withdrawals made. Withdrawals could be made from any ATM which carries the ‘VISA’ logo.
Account holders are only required to maintain an average monthly balance of Rs. 50,000 in order to be eligible for this higher interest rate. However the account could be opened with an initial deposit of Rs. 1,000. Should the account balance fall below Rs. 50,000, the account holder will continue to receive the bank’s normal savings interest rate until he/she elevates the balance up to Rs. 50,000.
With Champion Saver, the account holder can either opt for a pass book or a monthly statement.
Apart from the higher interest rate, a Champion Saver account holder will also enjoy a host of other benefits such as a VISA debit card, SMS banking facility, internet banking facility and standing order facility.
Sri Lankan residents over 18 years of age or foreign personnel with resident visa status can either walk in to any of the Pan Asia Bank’s 78 branch network spread across the country to open a Champion Saver account.
Pan Asia Bank strong performance and stability is underscored by the BBB rating by Fitch Ratings Lanka Limited and BBB+ by Lanka Rating Agency. Pan Asia Bank was also adjudged as the fastest growing commercial bank in Sri Lanka in 2014 by United Kingdom’s Global Banking and Finance Review.

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