Sampath Bank launches first ever Investment Plan Product
View(s):Sampath Bank this week announced the launch of ‘Sampath Dream Planner’, a personal investment plan which will serve as a tailor-made savings solution for their discerning customers.
Consisting of two categories – Personal Investment Plan and Kids Investment Plan -, both options offer a guaranteed rate of interest for the period of investment. As a result of this, Sampath Bank will be able to ensure that customers will secure their future financial aspirations at a targeted calendar date. This will be an especially useful solution to those who want to save but lack a proper structured plan, the company said in a media release.
A personal investment plan under the Sampath Dream Planner initiative can be opened individually or jointly by any person(s) over the age of 18. A maturity period anywhere between to two to five years can be chosen by the customer with a maturity value of over Rs.50,000. Personal investment plans will enjoy a guaranteed higher interest rate 7 per cent p.a for the investment period. Adding to the flexibility of the plan, Sampath Bank will allow premature closures at the normal base savings rate.
Responsible parents who would like to open a Kids Investment Plan can do so provided that their child is no older than 13 years of age. Maturity values will stand between Rs. 50,000 to Rs. 10 million with a 5 to 10-year maturity period. Much to the benefit of both the children and parents, Kids Investment Plans will feature an industry leading guaranteed higher interest rate of 7.5 per cent p.a for the investment period.
“This much anticipated banking product from Sampath Bank will appeal to younger parents and working executives who seek to engage in saving with a trusted financial giant. Sampath Dream Planner will be the ideal investment plan to make dreams a reality. As we move forward into 2020 and beyond, Sampath Bank will continue to innovate products such as these in order to stay true to their motto of presenting your future,” the release said.