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SEYLAN LEASING |
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What makes the Leasing with Seylan Bank different from any other leasing facility in the market? |
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We will give you, |
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Hassle free leasing arranged in minimum time |
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Very competitive Interest rates |
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Flexible repayment schemes |
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Leasing packages customised to suit your budget |
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And of course the PROMPT PROFESSIONAL SERVICE from our island wide branch network. |
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What can I lease? |
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Seylan Bank offers you leasing facilities for, |
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Vehicles for personal use |
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Commercial Vehicles |
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Heavy Machinery |
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Commercial Equipment |
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Industrial Equipment |
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Tell me MORE about leasing? |
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A lease is a contract between a Financial Institution (Lessor) and a Customer (Lessee) for the hire of a specified asset from the vendor |
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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. |
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How does leasing work? |
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You decide on model, manufacturer or vendor of the asset and the Bank will purchase the asset for you. |
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You will have to pay the agreed rental till the end of the lease period during which time you have possession and usage of the asset. |
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Terms and Conditions? |
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We will provide you with very flexible leasing terms depending on the asset type, the repayment capacity, cash flow etc. |
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The Average time period for a lease is between 1 to 5 years |
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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. |
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Advantages to the customer ? |
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You Purchase the asset without paying your own funds. It will reduce your capital expenditure. |
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Offers 100% financing |
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Reduces the impact of inflation because of fixed rentals. |
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It provides a flexible source of financing, as the lease term could be adapted to suite your specific needs. |
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Required documents ? |
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Individuals have to submit,
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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. |
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Corporate Customers,
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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 copies of forms 1, 18, 19 and 20 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 |
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Leasing facilities could be granted for unregistered vehicles (New and Reconditioned / Used) and Registered vehicles. |
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BRAND NEW Vehicles |
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The vendor’s invoice is sufficient. It should be, |
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Addressed to the bank indicating details of vehicle including engine and chassis numbers. |
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Amounts to be financed |
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UNREGISTERED RECONDITIONED AND USED Vehicles |
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In addition to the invoice, |
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A valuation from a valuer acceptable to the bank |
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The valuation should give a detailed description of the vehicle and be addressed to the bank |
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REGISTERED Vehicles |
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The year of manufacture of the vehicle should not exceed nine years |
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Lease amount will not exceed a % of the valuation depending on the year of manufacture |
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Invoice from the vendor, addressed to the Bank |
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Only new or reconditioned equipment will be considered. |
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If the equipment is reconditioned a valuation from a valuer acceptable to the bank must be provided |
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Invoice from vendor, addressed to the Bank |
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For further details please call 011 2452547 or email cfu@seylan.lk |
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