DFCC launches ‘Garusaru Hybrid Personal Loan’

DFCC Bank announced the launch of a ground-breaking new loan product, ‘DFCC Garusaru Hybrid Personal Loan,’ specifically tailored for government employees 
nearing retirement.

Unlike traditional loan products, the DFCC Garusaru Hybrid Personal Loan offers a unique feature that allows borrowers to repay the loan during active service and after retirement, marking a significant milestone in the banking industry.

Designed to cater to the financial needs of government employees approaching retirement within 6 years, the DFCC Garusaru Hybrid Personal Loan provides a flexible solution to a common challenge. Accordingly, this product empowers government employees to access substantial funds up to a maximum of 
Rs. 5,000,000. 

All government servants with confirmed employment and a minimum basic salary of at least Rs. 30,000 per month are eligible. Loan tenures range up to 20 years, provided full repayment is achieved upon or before the borrower 
reaches age 75. 

Discussing the new loan scheme, Aasiri Iddamalgoda, Senior Vice President of Retail Banking and SME at DFCC Bank said, “We are pleased to introduce this pioneering product to the market, addressing the unique needs of government employees nearing retirement. This is an important milestone for the financial empowerment of senior citizens in the government service. The ability to repay the loan during both active service and retirement provides unparalleled flexibility, empowering individuals to access substantial financial support while planning for their future. The hybrid repayment structure allows maximum flexibility, allowing senior government servants to enjoy their later years.”

One of the key highlights of the DFCC Garusaru Hybrid Personal Loan is its repayment structure, which aligns with the borrower’s journey from active service to retirement.