Pan Asia Bank’s Rising Fixed Deposit – the unique two year FD allows depositor to benefit from market interest rate increases even during the tenure of the deposit while safeguarding him or her from any downward trends in market interest rates.
At present the Rising FD product offers guarantees minimum interest rates for 8.00% for a 2-year term and this interest rate may be upwardly revised every 6 months if the market interest rates have increased during that time.
On the other hand, if the market interest rates are found to have decreased during those reviews, the deposit holder will still continue to receive the guaranteed minimum interest rates of 8.00% for the remainder tenure of the fixed deposit.
“So far the deposit holder in Sri Lanka has remained a passive customer, but with the Rising FD Pan Asia Bank challenged the conventional wisdom in a fixed deposit product for the first time”, said Nalaka Wijayawardana Deputy General Manager Marketing of Pan Asia Bank.