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PAN ASIA BANK

Banks typically offer a variety of services to assist individuals in managing their finances, including,
  • Personal banking
  • Corporate banking
  • SME banking
  • Teasury

Then we can be understanding one by one their product and services.

  1. PERSONAL BANKING

  • *    Saving & investment

o   Current account
o    Visa enabled ATM card, Cheque book, internet banking are features & benefits
o    Initial investment Rs:1000/=
o   Champion saver
o    You can withdraw money from any ATM which carries the Visa or Lank pay logo
o    SMS alert service
o    You can opt for a Pass Book or Monthly Bank Statements
o    You can nominate a person to be the beneficiary of the account
o    All you need is an initial deposit of Rs:1,000/
o   Savings account
o    initial Deposit Rs:1,000/-
o    You receive a VISA Debit card
o    SMS Banking facility
o    Internet Banking Facility
o   Sammana saving
o    Exempted from quarterly service charges
o    VISA Debit Card
o    SMS and internet banking facility
o    Fixed Deposits – preferential rate of 0.5% . an above prevailing deposit rates
o    Initial deposit Rs:200/=

  • *    Fixed deposits

·         Fixed deposits
o    Ability to select a tenor from 1 month to 5 years
o    Interest Payment, for deposits less than 1 year, interest could only be earned at maturity.
·         Rising fixed deposits

  • *    Children’s saving

·         Mithuru max
o    Initial deposit Rs:500/=
·         Daskam
o    Initial deposit Rs:1000/=

  • *    Obtain a loan

o    Sawbagya loan scheme                               8%
o    Awakening north refinance                         9%
o    Dairy development loan scheme                 6%
o    Niwasa home loan                                       17%
o    Step up niwasa housing loan                       16.5%

  • *    Credit card

o    World master cards                                       28%
o    Pan Asia bank                                               25.75%
o    Pan Asia gold                                                28%
o    Pawning                                                        21%

Sri Lankan citizens over 18 years of age to own gold or gold jewellery (18-24 carat) irrespective of whether they are an account holder of pan Asia bank or not.

Furthermore, they offer to the customers
o    Branded vasa international debit card
o    Personal cheque books
o    Sweep in sweep out – free
o    Telegraphic transfer – 25% off
o    Quick cash –within 2 hours’ request
o    ATM
o    SMS banking
o    SMS alert
o    Margin trading facilities

  •   Foreign currency account

·         BFCA
·         PFCA

  • *    Special account

·         IIA
ü  Offers you an account which can be maintained in foreign currency and /or Sri Lankan rupee at attractive rates and is exempted from local taxes.
·        SFNRA & SFNEDA
ü  Offers a special account scheme that allows senior foreign nationals over 55 years of age
·         CYRA
ü  Offers foreign nationals and companies outside Sri Lanka the opportunity to operate a Sri Lankan Rupee account



  • *    Leasing

·        Brand new & unregistered                               17%
·          Registered                                                       17%
·          Budget plus                                                     1

 2. Corporate banking 

  • *    Corporate banking unit

·         Blue Chip Money Market Savings
 Earn high returns on your company funds by linking the Blue Chip Money Market Savings     Account with current account through sweep facility
                                                                                  Interest Rate (p.a.)                           A.E.R

Below LKR 10,000,000/-                                              0%                                                –
LKR 10,000,000/- and above                                    10.50%                                        11.02%

  • Current Accounts                                                Commercial Paper
  • Hedging Solutions                                               Hedging Solution
  • Import & Export                                                  Overdrafts
  • Internet Banking                                                  Loan
  • Overdraft                                                             REPO                                                                                              
  • Savings Accounts                                                Internet Banking
  • Import & export
  • Treasury Bills & Bonds                                    

Currency
Interest rate
AUD
2.25%
CAD
1.00%
CHF
0.5%
EUR
1.15%
GBP
1.5%
JPY
0.10%
USD
2%

  • *    Margin Trading & Custodial Services

 Realize your long term investment goals through leveraging and amplifying your exposure without having to invest any additional capital.

Features & Benefits

v  Get borrowings against your stock portfolio for future investments
v  Receive up to 50% margin on your stock portfolio
v  Authorize by the Securities and Exchange Commission of Sri Lanka


  • *    Trade Service
  • A range short term to medium term trade financing solutions to meet your company's global trade requirements.

  1. For Importers,

  • o   Letter of Credit

We issue, amend and pay sight and nuisance letters of credit. Customers can benefit from our expertise in structuring the instruments in the best manner.
o   Import Bill Collections
Our clients can rely on our expertise in efficient and prompt handling of Import collection documents.
  • o   Trade Credit

We address your working capital gap through import financing solutions in foreign currency through Buyers/ Suppliers Credit at competitive rates.

2.For exporters

  • o   Export Pre-Shipment Finance

We provide Export Packing Credit both in rupee as well as foreign currency at competitive rates
o   Export LC Advising
Benefit from timely receipt, expert advice and a wide international network when your Export Letter of Credits is advised through Pan Asia Bank

  • o   Export Letter of Credit Confirmation

With our confirmation services, you can eliminate the foreign bank risk and country risks from your export transaction
  • o   Purchase/Discounting of Export Bill

We offer this at competitive rates both in rupee as well as foreign currency with world-class service standards
  • o   Export Bill Collection

Concentrating your Documentary Collection activities with Pan Asia Bank, you can eliminate many of your exporting hassles

3.Guarantees

  • .   Performance Guarantees
  • o  Financial Guarantees
  • o   Bid Bond Guarantees
  • o  .Advance Payment Guarantee

3.SME banking
  • *    Services Provide

·         Start Up Projects
           Customized financing solutions for new enterprises on flexible terms. Proceeds may be utilized            to finance capital assets, working capital and to meet pre operational expenses

·         Expansions, Relocations & Diversifications
Financial assistance to acquire capital assets, to finance incremental working capital requirement, to support existing enterprises, to expand the business activities and to move up to the next level or to diversify activities of the enterprises
·         Working Capital financing
Term loans, Short Term loans, Trade Financing and overdrafts to finance working capital requirements in line with business needs to existing operating Enterprises

  • *    Products Offered

Following products are offered by pan Asia bank for small and medium sized enterprises
·      *   Term Loan/Short Term Loan
·        * Overdraft
·        * Leasing
·      *   Trade Financing

4.TREASURY
  •    . REPO'

A Repo is an agreement for the simultaneous purchase and sale of a security, usually Treasury Bills and Bonds. Repo deposits are money market investment instruments to invest short term and medium term funds. While there is no restriction on the amount that can be invested, the bank may impose minimum requirements for operational reasons. Interest is payable at maturity
  • ·         Revers REPO’S

A Reverse Repo is a form of short-term borrowing for holders of government securities. The customer sells the government securities to the bank, usually for a short tenor, and buys them back at the end of the term. Reverse Repos are money-market instruments that are usually used to raise short-term capital.
  • ·         Treasury bills

A supremely secure investment opportunity via treasury bills & bonds issued by the Central Bank of Sri Lanka on behalf of the Sri Lankan government. The minimum amount is Rs: 5000,000
  • ·         Treasury bonds

Bonds are auctioned by the Central Bank on behalf of the government as and when required. These bonds pay a semi-annual coupon of interest at a fixed rate. Treasury Bonds are tradable in the secondary market. The minimum amount Rs: 5000,000

  • ·         Sri Lanka Development Bonds

The Sri Lanka Development Bonds (SLDBs) are a debt instrument denominated in US Dollars issued by the Government of Sri Lanka in terms of the Foreign. The minimum investment at the auction shall be USD 100,000.
  • ·         Foreign Currency Banking Unit

Banking solutions to carry out transactions in designated foreign currencies for residents and non-resident enterprises and resident enterprises

Features & Benefits
ü  Normal exchange control regulations are not applicable
ü  Concessions on customs duty
ü  Lower interest rates on borrowings
ü  Minimize exchange rate fluctuation
ü  Tax benefits

  • ·         Import and Export Financing

o   Revolving Loans
o   Bank Guarantees


















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