Union Bank introduces ‘Double Vasi’
Union Bank of Colombo PLC announced the launch of “Double Vasi” - a
unique investment product for customers. The new product will be
introduced to its customers from today.
“Double Vasi” provides a two pronged investment opportunity with
greater returns than the usual fiveyear fixed deposit. 70% of the
investment will be invested in a Union Bank Fixed Deposit for a period
of five years with an opportunity to earn an attractive interest rate.
The balance 30% will be invested with the National Equity Fund which
has recorded attractive returns for the past 20 years.
The National Equity Fund is managed by National Asset Management
Limited (NAMAL) a subsidiary of Union Bank.
The investment in the National Equity Fund provides a tax free return
and an opportunity to receive an annual dividend.
The investor can redeem the investment in National Equity Fund at any
time with no penalty. This unique product provides the opportunity to
invest in the stock market with no risk to the initial deposit.
Double Vasi adds to the many innovative financial products being
offered by Union Bank.
As one of Sri Lanka's fastest growing Bank's focusing on Small and
Medium Enterprises and Retail sectors, Union Bank aims to offer its
customers a comprehensive range of financial solutions to address their
changing needs.
The Bank is forging ahead as a key player in the Banking industry in
Sri Lanka and has a branch network of 36 branches.
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