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| News in Details |
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| TFC- 1ST FINANCE COMPANY TO ACHIEVE RS.1 BILLION IN SAVINGS DEPOSITS - 2008-01-17 |
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| Summary |
| The Finance Company (TFC), backed by its strong heritage of 68 years, introduced its savings accounts scheme in 2005. Within the 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. |
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| In the year 2005 the Central Bank of Sri Lanka further liberalized the country’s financial market by authorizing Finance Companies registered with them to accept and mobilize savings deposits, which until that time only licensed Commercial banks and specialized banks were authorized to do. Embracing the 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 give a ways of Maruti Cars, Gold Coins, Mobile Phones, Mountain bikes, and many more attractive gifts for minors. |
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| Taking innovation a step further, TFC has revolutionized the savings market with the introduction of “Super Saver” which offers the highest ever rate of interest at 19% per annum in the financial market for savings accounts. TFC “Super Saver” is designed to encourage and support savings habit among the people while giving them the best value for their investments. |
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| Extending even more value to their customers, TFC issues debit cards free of charge. The card can be used to withdraw cash in over 1000 ATMs supported by the VISA network island wide 24 hours 365 days of the year. |
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| On the occasion of reaching the milestone of the highest savings deposit base, TFC’s Director Deposits, Mrs. V. W. Dissanayake noted that the company is growing from strength to strength, laying the claim on many achievements along the way, and reiterated that the company has plans in the pipeline to offer even more value additions to their clients.
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