Raisin UK adds Bank of Ceylon (UK) Ltd to Online Marketplace

Raisin.co.uk, the UK’s leading cash savings service, has added Bank of Ceylon (UK) Ltd to the only marketplace – now with 27 savings partners for consumers to choose from. 

The bank has enjoyed a long-standing presence in the UK since 1949, first, established as an overseas branch of Bank of Ceylon in London and thereafter transformed into a fully owned subsidiary in 2010. The bank is offering UK savers long-term options to make the most of their hard-earned cash with a 1.85% AER 3-year fixed-rate bond and 2.05% 5-year fixed-rate bond.

The parent bank, Bank of Ceylon was established over eight decades ago and firmly entrenched as Sri Lanka’s premier financial services organization offering a broad range of services consisting of commercial banking, trade finance, development financing, mortgage financing, lease financing, investment banking, corporate financing, dealing in Government securities, pawnbroking, credit card facilities, off-shore banking, foreign currency operations, and other financial services. Bank of Ceylon is the largest bank in Sri Lanka and holds a leadership position in its assets, deposits, and foreign currency remittances. In addition to its London subsidiary, Bank of Ceylon also has overseas branches in India, Maldives, and Seychelles.

Discussing the launch Kevin Mountford, Raisin UK Co-Founder, said: “Despite recent interest rate increases we are still yet to see high-street banks passing on benefits to UK savers, which is why the two long-term products offered by the Bank of Ceylon (UK) Ltd are a welcome addition to the market. With confidence increasing and rates on longer-term products starting to offer real returns to savers money, now is a great time for consumers to secure their financial future with top-end rates.”

Aruna Kumara, CEO of Bank of Ceylon (UK) Ltd, added: “We’re delighted to onboard our latest deposit products with Raisin UK, offering the UK savers a competitive return for their savings with the convenience of the digital marketplace. Our 3-year and 5-year savings products would be an ideal opportunity for the UK savers to lock in a higher rate of interest for their savings and earn a very good return with peace of mind.”

To date, Raisin has brokered 43 billion Euros across Europe and has 440,000 customers across 31 European countries on seven platforms. With 119 partner banks, Raisin offers by far the largest variety of products and partner banks of all savings platforms and allows customers a wider choice and freedom of choice.

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