Garusaru - Fixed Deposit a success among senior citizens

Garusaru, the specialised Fixed Deposit for Senior citizens which was launched one year ago by Capital Reach Leasing has shown a remarkable growth during the year and has made new in-roads into the senior citizens market.

The Deposit focuses on and caters to the retired population of the island. Garusaru has gone a long way to bridge the gap existing in today's market for a properly structured retirement plan for senior citizens, a media release from the company said.

The Managing Director commenting on the product said that Capital Reach Leasing has looked into the needs of senior citizens when designing the product.

He said "there are three broad factors important to this sector and the popularity of Garusaru lies in Capital Reach fulfilling these".

The more educated you are on the financial risks, the better you will be able to make a correct decision.

The fact that Capital Reach Leasing is among the 32 registered Finance companies in Sri Lanka with eight years of profitable operation behind it in the Leasing market is a significant achievement.

The strong balance sheet with sound capital adequacy / liquidy ratios combined with the company's above industry average NPLs(Non Performing Loans), Net Profit Margins, sound corporate governance and comprehensive risk management practices makes Capital Reach Leasing an institution that can offer every stability combined with higher returns to the depositor.

Further the depositor's money is 100% invested in Lease and hire purchase facilities of Capital Reach Leasing, all of which are backed by tangible assets of high security value.

The second factor is the attractive interest rates offered by Capital Reaching Leasing to the senior citizens.

Capital Reach has recognised senior citizens as deserving the highest returns for the services rendered to the country during their productive years and now in their retirement they deserve to have a good quality of life.