DFCC Bank’s ’Ranwarama’ Pawning facility lends a helping hand to those with urgent cash requirements

DFCC Bank’s Ranwarama Pawning facility lends a helping hand to those with urgent cash requirements

DFCC Bank has increased the advances of its “DFCC Ranwarama” Pawning Facility as a solution for families to meet their urgent cash requirements as many families are experiencing financial difficulties due to the COVID-19 outbreak that has had a significant impact on the Sri Lankan economy, the bank said in a media release.

Through this scheme, all Sri Lankan citizens over 18 years of age with the contractual capacity to declare themselves as owners of the articles can now pawn gold or gold jewellery. DFCC Bank accepts jewellery made of 18 Karat -24 Karat gold, with the articles being assayed using the latest available equipment. Items of 24 carat will hold an advanced value of Rs.82,000/-, while 22 carat pieces will hold an advanced value of Rs.68,000/- at an interest rate of 0.75% per month. Those who engage in these transactions are provided a maximum of 12 months to settle the pawning advances at their convenience.

“DFCC Bank’s Ranwarama Pawning Facility offers many other special features including the highest advance amount at competitive rates of interest, confidentiality and guaranteed security for the articles, flexible payment plans with redemption options when required and redemption without prior notification. All of these facilities are available with no hidden charges, offering customers the best service available in the market,” the release said.