TFC achieves Rs. 1 billion in savings deposits

The Finance Company (TFC), backed by its strong heritage of 68 years, introduced its savings accounts scheme in 2005.

Within a short period of time since its introduction, the company has achieved the milestone of a savings deposit base of over one billion rupees.

TFC has the distinction of being the first finance company to win this landmark achievement.

In 2005 the Central Bank of Sri Lanka further liberalised the country's financial market by authorising Finance Companies registered with them to accept and mobilise savings deposits, which until that time only licensed Commercial banks and specialised banks were authorised to do.

With this opportunity, TFC introduced two savings schemes specially targeting adults and minors with competitive interest rates.

Over time the company introduced many value additions to their savings products through giveaways of Maruti Cars, Gold Coins, Mobile Phones, Mountain bikes, and many attractive gifts for minors.

Taking innovation a step further, TFC has revolutionised the savings market with the introduction of "Super Saver" which offers the highest rate of interest at 19% per annum in the financial market for savings accounts.

TFC "Super Saver" is designed to encourage and support the savings habit among the people while giving them the best value for their investments.

Extending even more value to their customers, TFC issues debit cards free. The card can be used to withdraw cash in over 1000 ATMs supported by the VISA network islandwide 24 hours 365 days of the year.

TFC's Director Deposits, Mrs. V. W. Dissanayake said that the company is growing from strength to strength, laying the claim on many achievements along the way and added that the company has plans in the pipeline to offer even more value additions to their clients.