Saturday, July 23, 2011

DFCC Bank provides loan facilities for Sri Lankan students

DFCC Vardhana Bank, the commercial banking arm of, DFCC Bank provides loan facilities for Sri Lankan students aspiring to engage in higher education activities or to further their professional qualifications in either Sri Lanka or overseas .You may find that a good education can be very expensive to obtain, making you think that the pursuit of higher studies is simply out of reach for you or your child. Our Nenasa student loans will help you or your child reach new heights and go places, said Rohan Tillekeratne, Manager Personal Financial Services of DFCC Vardhana Bank in an interview with Free Hold section of Sunday Times. He noted that the bank is keen to help Sri Lankan students overcome financial obstacles and pursue educational goals.

DFCC has continuously served to empower the youth of the country, through building skills, capacity and general knowledge. DFCC group's popular television quiz program Mind Star which is an example of their commitment to the development of human potential through higher education.The Vardhana Nenasa educational loans scheme has been designed to cater to both undergraduate and postgraduate students seeking education in Sri Lanka and abroad. A special feature of the loan scheme is that it helps youth who are already employed obtain professional qualifications from leading educational institutions such as the Chartered Institute of Marketing (CIM), Sri Lanka Institute of Marketing, and Chartered Institute of Management Accountants (CIMA), Association of Chartered Certified Accountants, as well as locally based private higher educational establishments providing degree programs of reputed foreign universities.

Under the Vardhana Nenasa loan scheme customers have options of obtaining either short or long term facilities at competitive fixed or variable interest rates. Students are benefited by the convenience of being able to obtain these loans within a short period by providing all necessary documentation in a streamlined manner, where the Bank's officers will provide all necessary documentation and instructions to the loan applicant at the initial meeting. Loans can be obtained by parents on behalf of children who are looking to gain professional or higher educational qualifications, he revealed.

DFCC Vardhana bank has grown from strength to strength over the past eight years since its inception, and has over 44 branches that offer lending facilities including Nenasa student loans he said. DVB is one of the fastest growing commercial banks in Sri Lanka to have achieved in excess of 100 presences including Sri Lanka post office locations in regional and rural areas within a very short time period.This rapid rate of expansion coupled with the bank's vast network spanning every single district in the country, ensures that they are with the reach to every single one of its consumers and the majority of Sri Lankans. Therefore parents almost anywhere today in Sri Lanka are able to reach the bank for these loan facilities conveniently he added.. This is a uniquely styled education loan where customers can select a repayment scheme and interest rate to suit their budget. This loan scheme enables coustituents to apply for loans based on their income levels, age and purpose of the loan, all of which gives them full flexibility.

The Vardhana Nenasa loans are currently one of the few grants which support undergraduate, post graduate and MBA studies as well. Permanently employed parents can borrow with the student as co-borrower. These loans will cover majority cost of course fees, living expenses etc while direct remittance to the university is also possible he said.The Vardhana Nenasa lending scheme, backed by the strength and stability of the DFCC Group, is mainly targeted at the increasing demand for the funding of foreign education by Sri Lankans. DFCC holds education in high esteem and this corporate attribute is reflected in financing higher education countywide, Mr. Tillekeratne said.Referring to The Vardhana Nenasa students loan scheme being offered for both Undergraduate and post grad studies here and abroad, he added this scheme provides parents the comfort that their child's future higher education is financially secure.

Sri Lankan parents pay over 60 million US dollars annually to educate their children overseas. The actual figure could be much higher. "Every year 8,000 to 10,000 student leave Sri Lankan shores seeking foreign education, in the UK, US, Australia and Canada.Under such circumstances the Vardhana Nenasa student loan scheme will be of immense benefit to such students he said. Through this education loan scheme, parents will be able to have an affordable option to meet the financial burden of their children's higher education be it here in Sri Lanka or overseas, making it possible for students to gain even an internationally recognized qualifications with relative ease, he said.

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