Eliminating all fees and slashing down the interest rate, Seylan Bank set new benchmarks for the Sri Lankan credit card industry with the launch of its revolutionary Freedom Credit Cards. Embodying the spirit of freedom, the cards, brought to market in partnership with MasterCard, will offer greater value to cardholders by freeing them of traditional fees and charges, thereby relieving their minds from having to worry about their monthly expenses. Going beyond dispensing with conventional fees, Seylan Bank will be extending the irresistible deals and discounts that its credit cards are renowned for to the Freedom credit cards as well. 

“Decades of experience and intensive research has helped us clearly identify the different kinds of credit card users and allowed us to tailor our products to suit each type of customer. We found that while consumers appreciate the security and convenience offered by credit cards, they are increasingly weary of the plethora of fees charged,” said Mr. Kapila Ariyaratne, Director / Chief Executive Officer, Seylan Bank. “Easing these worries together with MasterCard, we now dedicate the Seylan Freedom Credit Card to Sri Lankan consumers. The ideal card for active, everyday users, Seylan Freedom Cards afford them the freedom to enjoy the benefits on offer without having to worry about the fees. We look forward to continuing to offer greater levels of service and adding value to our customers’ lives with solutions such as this.”

All Sri Lankans over the age of 18 with a monthly income of Rs.50, 000 and above or a Fixed Deposit of over Rs.100, 000 will be eligible to apply for this new credit card from Seylan Bank. With up to 51 days interest free credit, cardholders will be charged a nominal interest of 20% per annum. Doing away with the multiple fees associated with credit cards, Seylan Bank will be charging a one off maintenance charge of Rs.500/- which will be charged to the monthly statement only if the monthly credit card spend is lower than Rs.10, 000.

“Winning the trust and appreciation of our customers, our credit card products are renowned for the exhilarating array of deals and privileges that we offer. Waiving off all traditional fees, we are excited to extend these deals to Seylan Freedom Credit Cards,” said Mr. Tissa Nanayakkara, Senior Deputy General Manager - Retail Banking, Seylan Bank. “This includes exclusive privileges and discounts across an unparalleled range of categories including clothing, consumer durables, fuel, health, leisure, and travel. Cardholders can also avail an exciting range of benefits offered by MasterCard, in Sri Lanka and around the world.

With credit limits from Rs.50,000 to Rs.500,000 and the absence of daunting annual and other fees, Sri Lankan consumers can look forward to using their Seylan Freedom Credit Cards for more of their day to day transactions and revel in the benefits and flexibility it offers. For more information visit www.seylan.lk or call the Seylan Card Centre on 011 200 88 88.

Photo caption: The first Seylan Freedom Credit Card being handed over to Mr. Manjula Narayan, Chairman - NMK Group. (From left) Mr. Tilan Wijeyesekera – Deputy General Manager – Marketing, Seylan Bank; Mr. Kapila Ariyaratne – Director / Chief Executive Officer, Seylan Bank; Mr. Manjula Narayan, Chairman - NMK Group; Mr. Tissa Nanayakkara – Senior Deputy General Manager – Retail Banking, Seylan Bank; Mr. R.B. Santosh Kumar - Country Manager – Sri Lanka and Maldives, MasterCard and Mr. Nimesh Fernando – Chief Manager – Cards, Seylan Bank