HNB supports to move the wheels of economy

"In difficult times, people face hardships - some expected but most unexpected. When economies of the world are contracting and you start feeling the pinch, it is the individual borrower, the entrepreneur, the small household that are hit the hardest. To weather the storm and ride the crest of the wave in the upturn, business must continue, borrowing must continue. As a responsible bank, HNB realises the importance of proper pricing that will keep the wheels turning."

Hatton National Bank being a premier private sector commercial bank, "Partnering the Progress" of millions of Sri Lankans continues its journey towards assisting in the development of every Sri Lankan - not only by facilitating the basics but by going beyond. HNB, which introduced home loans in 1996 under the brand `Shanthi', today enjoys the privilege of being the leader in this sector amongst the private commercial banks. Falling in line with the national policy of providing shelter to all, HNB has played a dynamic role in disbursing large amounts of money for purchase and construction of houses amongst a wide spread clientele catered by a network of 178 Customer Services Centres located in all parts of the country.

The bank is very conscious of providing this service at affordable interest rates and has been constantly reviewing the pricing to provide the much needed comfort to their customers by reducing interest rates . During the month of May, home loan interest rate was reduced twice with the desire to pass on the benefit to prospective clients.

Assistant General Manager, PFS and BD P. Siridharan said that HNB, which launched the first branded product in the banking industry titled `Singithi' Minor Savings almost a decade and half ago, introduced educational loans and "graduateship" loans a few years ago thus providing a continuation of the process for the "Singithi" Minors to pursue their higher education when reaching major status. This facility is also available even for non- Singithi account holders. "At a time when external degree qualifications cost a colossal amount of money, the bank recognised the need for funding and to provide that funding at an affordable cost". HNB has consciously reduced the rate on graduateship loans/educational loans to pass on the benefits to its large clientele.

Equipment leasing and leasing of tractors and trailers in the agro based areas was found to be in high demand keeping in line with the state focus of promoting agriculture. HNB has taken the initiative to provide attractive leasing packages to this sector coupled with tailor made promotions organized through various partners. A significant feature in such promotions has been the bundling of Insurance and Credit Cards to provide a total solution at reasonable interest rates.

Anticipating growing demands for agro based equipment and leasing, the bank has reduced the interest rate further to facilitate the farming community. The bank is promoting the `Gami Pubudu Upadesaka' scheme to elevate the entrepreneurial poor to actively take part in economic development. Advances under the GPU loan scheme have always been at extremely special rates, more over meeting the terms of payments as desired by communities.