Seylan Bank’s array of Savings accounts having introduced highly successful loyalty schemes such as "Merit Rewards" and "Seylan 2 in 1", which provide lifestyle benefits to its loyal customers, now offers a stepped-up interest rate through its "Ihalin Ihalata" scheme.

"Ihalin Ihalata" provides savers with the highest interest rates in savings.

The initial deposit to open an "Ihalin Ihalata" Account is Rs. 5,000/-. At present, overnight balances between Rs. 5,000/- and Rs. 50,000/- attract an interest rate of 5.5%p.a. and from Rs. 50,001/- to Rs. 100,000/-, the interest rate would be 7.5% p.a. From Rs. 100,001/- onwards an interest rate of 12.5% p.a. would be applicable.

For those with the commitment to save and have accumulated more than Rs. 100,001/-, the return would be 12.5% p.a. which is the highest rate payable among banks for savings.

Interest would be calculated on the end-of-day balances at the applicable interest rate and credited to the account on a monthly basis.

Customers could transact business as usual with any number of transactions being allowed, without the interest rate being affected.

Depositors would be issued a Seylan VISA International Debit Card free of charge for the first year. In addition, a free SMS Banking facility and free Internet Banking facility too would be on offer for the first year."Ihalin Ihalata" balances could be used as collateral for borrowings over the counter for upto 90% of the account balance.

Seylan Bank with its island-wide branch network and the "Anywhere, Anytime Banking" concept, had taken convenience to divise a plan with access to savings accounts through its branch network in addition to Telephone Banking, SMS Banking, Internet Banking and a well spread ATM network.

The Bank also boasts of the only 24 hour 365 day banking outlet with human interface, at its Millennium branch.

The strength of Seylan Bank’s channels could be fully utilized for the convenience of the customers who would be entitled to higher rates of interest, from "Ihalin Ihalata"