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Union Bank introduces ‘Double Vasi’
Union Bank of Colombo PLC announced the launch of ‘Double Vasi’, a unique investment product on Tuesday (01)

"Double Vasi" provides a two pronged investment opportunity with greater returns than the usual 5 year fixed deposit. 70% of the investment will be invested in a Union Bank Fixed Deposit for a period of five years with an opportunity to earn an attractive interest rate.
 
The balance 30% will be invested with the National Equity Fund which has recorded attractive returns for the past 20 years. The National Equity Fund is managed by National Asset Management Limited (NAMAL) a subsidiary of Union Bank. The investment in the National Equity Fund provides a tax free return and an opportunity to receive an annual dividend. The investor can redeem the investment in National Equity Fund at any time with no penalty.

This unique product provides the opportunity to invest in the stock market with no risk to the initial deposit.