DFCC Bank partners with John Keells Properties to Revolutionise Home Financing for Viman Ja-Ela
December 12, 2023
DFCC Bank has entered a strategic collaboration with John Keells Properties, marking a pivotal partnership in the real estate landscape of Sri Lanka. This alliance is poised to redefine the home financing experience for potential buyers of units at Viman Ja-Ela.
The partnership leverages the strengths of both entities, merging John Keells Properties’ market leadership and expertise in crafting iconic living spaces with the industry-leading innovative financial solutions of DFCC Bank. Homebuyers will enjoy exclusive benefits, including competitive interest rates starting from 13.5% p.a., flexible down payment requirements and an exceptional customer experience. The overarching goal of the partnership is to create a seamless and rewarding homebuying experience that addresses the evolving needs of Sri Lankans.
Aasiri Iddamalgoda, Senior Vice President and Head of Retail Banking and SME at DFCC Bank expressed his enthusiasm, saying, “We understand the significance of homeownership and the financial commitment it entails. This collaboration with John Keells Properties enables us to provide homebuyers with flexible financial solutions, including attractive pricing and flexible repayment methods for home loans that align with their unique requirements. It demonstrates our commitment to supporting individuals in their dream of owning a home whilst revolutionising the entire process with our signature customer service, renowned for its reliability, efficiency, and seamlessness.”
Under this partnership with John Keells Properties, DFCC Bank introduces two exclusive loan disbursement options for homebuyers at Viman Ja-Ela. The first option allows for a maximum loan amount of 75% of the purchase consideration, with the borrower initiating an upfront 25% contribution. The second option involves a structured payment plan, including a 10% down payment, 70% bank funding, and a 30% customer contribution at each tranche.
The structured payment plan features a grace period on capital repayment until the handover of the unit. During construction, homeowners will only need to pay 10% of the capital and the interest payments. Additionally, the plan includes annual bullet payments for the principal, with 50% of the loan to be repaid as the last instalment, ensuring a financially accommodating approach. Furthermore, DFCC Bank’s specialists will advise customers and tailor their home loan plans according to individual requirements.
Commenting, Nadeem Shums, Head of Sales & Marketing at John Keells Properties and Vice President – of John Keells Group, added, “We are pleased to partner with DFCC Bank and redefine the homebuying experience for our discerning customers. This collaboration allows potential Viman homeowners to access flexible mortgage packages that set a new benchmark in Sri Lanka’s real estate space. The simplified financial options also enrich the overall journey of acquiring a home within this new development.”
Set to transform modern living in the heart of Ja-Ela, Viman is designed to provide a secure, family-friendly environment, while retaining the charm of a small-town setting. Residents will have easy access to an array of conveniences including supermarkets, banks, restaurants and hospitals. Accordingly, the collaboration between DFCC Bank and John Keells Properties is poised to transform the homebuying experience, offering tailored financing options that align with the evolving needs of modern Sri Lankans. The partnership also sets a new standard in Sri Lanka’s real estate sector, providing a seamless and enriching journey for individuals aspiring to homeownership.
Photographed (from left to right): Ann Silva (Legal Officer DFCC Bank ), Thusitha Subramaniam (Executive – Retail Asset Products – DFCC Bank),Asanka Patabadige (Assistant Vice President – Leasing and Retail Assets Products – DFCC Bank), Samathri Kariyawasam (Vice President – General Legal – DFCC Bank), Aasiri Iddamalgoda (Senior Vice President – Head of Retail Banking & SME – DFCC Bank), Nadeem Shums (Head of Sales & Marketing – John Keells Properties & Vice President – John Keells Group), Roshanara Hatch (Manager Sales – John Keells Properties), Shafeeka Gunasekara (Head of Sales & Marketing – John Keells Properties), Kanishka Herat (Manager Legal – John Keells Properties)
About DFCC Bank
DFCC Bank is a full-service commercial bank with a rich history of 68 years and offers a diverse range of commercial and development banking services. As part of its Sustainability Strategy 2020-2030, the bank aims to become a leading institution that contributes towards greater resilience through the creation of resilient businesses and supporting green financing and sustainable, socially responsible entrepreneurship. The Bank has received numerous accolades, including being named the ‘Most Trusted Retail Banking Brand’ and the ‘Best Customer Service Banking Brand’ in Sri Lanka in 2021 by Global Brands Magazine UK, and ‘Market leader in Cash Management 2021’ by Euromoney. Additionally, DFCC Bank is ranked among Business Today’s Top 40 Corporates in Sri Lanka, is rated A- (lka) by Fitch Ratings Lanka Limited and is regulated by the Central Bank of Sri Lanka. Attesting to its commitment to sustainability, DFCC Bank is also the first, and presently only, entity in Sri Lanka to have received accreditation from the Green Climate Fund (GCF), granting it access to concessionary funding worth USD 250 million, to support climate mitigation and adaptation projects across the Island.