'Seylan Scholar' for higher education

'Seylan Scholar' a special student loan was launched by Seylan Bank recently. The scheme will expand the possibilities of parents financing the higher education of their children overseas and professionals obtaining the necessary finance for furthering their educational qualifications.

Seylan Bank Chairman Eastman Narangoda said, "in the past few years there has been a growing trend for parents to send their children overseas for an university education or even spend on higher education locally. However, financial constraints have been a severe prohibitive factor.

With this scheme we're both proud and happy to redefine the boundaries of higher education and make it possible for a larger number of Sri Lankan boys and girls to pursue a higher education."

This loan scheme has been specially designed to help parents fund the higher education of their children. It paves the way for their children to obtain an overseas degree from a reputed university or even a professional qualification such as CIMA or CIM. The scheme will also help professionals and employed persons to acquire further qualifications including post-graduate, such as an MBA by providing access to hassle free funding with flexible options.

Seylan Scholar is open to those between the ages of 22 to 55 years (on maturity) including salaried employees, professionals and businessmen with loans ranging from Rs. 100,000 to Rs 7.5 Million. Offering more flexibility, relatives meeting the said criteria can also apply for loans on behalf of family members.

The loans have been so designed whereby covering 75% of the total expenditure with the balance 25% contributed by the borrower. Repayment should be done within seven years.

Seylan Scholar also brings with it a Loan Insurance Cover for death and disablement, a Free Debit Card, Credit Cards with special packages coupled with the Seylan Bank's renowned speedy and efficient service supported by its fully fledged islandwide branch network.