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Seylan Leasing

SEYLAN LEASING

	Leasing of Vehicles
	Leasing of Equipment / Machinery

What makes the Leasing with Seylan Bank different from any other leasing facility in the market?

We will give you,

	Hassle free leasing arranged in minimum time
	Very competitive Interest rates
	Flexible repayment schemes
	Leasing packages customised to suit your budget
	Leasing within a maximum of 48 hours

And of course the PROMPT PROFESSIONAL SERVICE from our island wide branch network.

What can I lease?

Seylan Bank offers you leasing facilities for,

	Vehicles for personal use
	Commercial Vehicles
	Heavy Machinery
	Commercial Equipment
	Industrial Equipment

Tell me MORE about leasing?

	A lease is a contract between a Financial Institution (Lessor) and a Customer (Lessee) for the hire of a specified asset from the manufacturer or vendor by the lessee.
	The Bank retains ownership of the asset whilst you have possession and usage of the asset on payment of lease rental over a specified period.

How does leasing work?

	You decide on model, manufacturer or vendor of the asset and the Bank will purchase the asset from the vendor.
	You will have to pay the agreed rental till the end of the lease period for which you have the possession and usage of the asset.

Terms and Conditions?

	We will provide you with very flexible leasing terms depending on the asset type, the repayment capacity, cash flow etc.
	The Average time period for a lease is between 1 to 5 years
	A lease agreement is a non-cancellable, non-transferable contract between the bank and you. The Bank will cover all insurance risks during the full term of the lease and will claim the cost from you.

Advantages to the customer ?

	You Purchase the asset without paying your own funds. It will reduce your capital expenditure.
	Offers 100% financing
	Reduces the impact of inflation because of fixed rentals.
	It provides a flexible source of financing, as the lease term could be adapted to suite your specific needs.

Required documents ?

Individuals have to submit,

1. The application form
2. Valid documents to prove your monthly income.
3. If you do not maintain an account with the bank, Bank statements for the past six months or if you maintain an account with Seylan Bank,your Account number and branch
4. Guarantor’s statements with income and tax details of the guarantors (two guarantors are required).
5. Copy of your NIC.

Corporate Customers,

1. Audited financial statements for the past three years
2. In case of a sole proprietorship or a partnership – A copy of the business registration certificate
3. In case of a limited liability company – Certified copy of form 48 Certified copy of Memorandum and Articles of Association
4. Board Resolution In a format approved by the Bank
5. Certified copy of Certificate of incorporation
6. Guarantor's statements with income and tax details of the guarantors
7. Copies of NIC

Leasing facilities could be granted for unregistered vehicles (New and Reconditioned / Used) and Registered vehicles.

BRAND NEW Vehicles

The vendor’s invoice is sufficient. It should be,

	Addressed to the bank indicating details of vehicle including engine and chassis numbers.
	Amounts to be financed

UNREGISTERED RECONDITIONED AND USED Vehicles

In addition to the invoice,

	A valuation from a valuer acceptable to the bank
	The valuation should give a detailed description of the vehicle and be addressed to the bank

REGISTERED Vehicles

	The year of manufacture of the vehicle should not exceed eight years
	Lease amount will not exceed 65% of the valuation.
	Invoice from the vendor.

	Only new or reconditioned equipment will be considered.
	If the equipment is reconditioned a valuation from a valuer acceptable to the bank must be provided
	Invoice from vendor