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Amãna Bank offers Govt. Employees the lowest rate for Home Financing

Amãna Bank September 24, 2020

With respect to everyone’s dream of having a home of their own, Amãna Bank is offering government employees a special home financing solution with the market’s lowest installment rate to make their dreams a reality.

The special offer entitles government employees to benefit from a 1st year monthly installment rate as low as Rs 9,994/- for Rs 1 million financing at a floating rate of 8.75% p.a with a repayment period of 15 years. Customers can calculate their monthly instalment which better suits them by visiting the Financing Calculator available on the Bank’s website www.amanabank.lk.

With a quick turnaround time of 3 days for credit approval and 14 days for end to end complete process including disbursing of funds, Amãna Bank’s people friendly Home Financing is known to be the quickest in the market. This solution has been fast-tracked with the Bank taking care of all local authority related documentation processes and approvals on behalf of the customers.

With the repayment period extending up to 20 years, customers can also benefit from a 1 year grace period for capital payments for facilities taken for construction or takeover purposes with Amãna Bank’s Home Financing solution, the Bank will partner with the customer in buying or building the house and will let the customer buy back the Bank’s share over a period of time. The Bank will rent its share of the house to the customer so that the customer could enjoy the full usage of the house throughout the period. Throughout the financing period, the Bank will share the risk of the property with the owner. Testament to its people friendly model of banking, customers financing their homes through Amãna Bank will not be required to pay any penalty fees on early settlement, a stand out feature, which permits customers to pay capital in bulk without any additional charges.

Commenting on this special Home Financing facility for government employees, Amãna Bank’s Head of Retail Advances Ramakrishnan Kirubakaran said “I believe that our tailor-made facility will allow government sector employees, to make their dream of a home of their own a reality, well ahead of time aided by a convenient and hassle free process, keeping to our promise of being Best in Speed and Best in Price. To know more about how the Bank’s home financing works and its salient features, I invite customers to visit any of our branches or view our informative video series available in our website www.amanabank.lk/knowledge-center/our-model.html

Amana Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange with Jeddah based IsDB Group being the principal shareholder having a 29.97% shareholding of the Bank. The IsDB Group is a ‘AAA’ rated multilateral development financial institution with a membership of 57 countries. In June 2020 Fitch Ratings Sri Lanka declared an upward revision of the National Long Term Rating of Amãna Bank to BB+(lka) with a Stable Outlook. Amãna Bank is a standalone entity which does not have any subsidiaries, associates or affiliated institutions, other than the ‘OrphanCare’ Trust.

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