WHAT IS MERIT REWARDS

Merit Rewards is a unique scheme whereby, as a Seylan Bank Current or Savings Accountholder, you are rewarded and supported by grants on specific occasions in life. Merit Rewards is not a loan. You do not have to pay it back.


HOW DO I QUALIFY FOR A MERIT REWARDS GRANT?
 You need to maintain a minimum credit balance of Rs. 20,000/ - in your Savings Account for a continuous period of 6 calendar months immediately preceding the event.

OR

You need to maintain a minimum credit balance of Rs. 10,000/- in your Current Account for a continuous period of 6 calendar months immediately preceding the event.

WHAT TYPE OF GRANTS WILL I RECEIVE?

1. Surgery

 If you or an immediate family member* undergoes surgery in Sri Lanka or abroad you may  apply for a reimbursement of expenses incurred as explained below.

 The amount reimbursed in case of surgery is upto Rs. 50,000/- for a minimum balance  between Rs. 20,000/- and Rs. 50,000/-(Subject to minimum balance). An additional Rs. 10,000/- will be given for each  additional Rs. 100,000 that you have maintained in the account thereafter.

 In the case of a cataract operation, only the expense incurred for the lens will be reimbursed.


2. Professional Education

 If you or an immediate family member* achieves excellence in performance (Merit or Class) at the final examination of a professional or academic discipline (especially in undergraduate studies) you will be eligible to apply under this category (Documentary evidence indicating excellence should be provided by the applicant). The date of event would be the date of publishing the official results.

 The amount of the grant is Rs. 25,000/-

3. Winning any international event
 If the account holder or anyone of his/her immediate family members* represent the country and wins any international events accountholders will be eligible to apply for a grant. The achievement should be 1st , 2nd or 3rd place in the relevant competition. Team events were individual excellent cannot be measured or events attended by an invitation will not be covered.

 The fixed sum of Rs. 50,000/- will be awarded.

4. Winning a National Event Sports, Drama , Art and Music

 At a national event categorised as an all island event organized by the relevant governing body, if the account holder or anyone of his/her immediate family members* wins, the account holder is eligible to make a claim.   an international event in any one of the above fields, you may apply under this category.
  The achievement should be 1st , 2nd or 3rd place in the relevant competition. Team events were individual excellent cannot be measured will not be considered.

 The fixed sum of Rs. 25,000/- will be awarded.


5. Comforting you in your sorrow

 In the sad event of the loss of an Accountholder or an immediate family member* Merit Rewards will grant Rs. 25,000/-


6. Inventions

 If you create a new invention recognized by the Registrar of Patent Rights and recommended by the Industrial Technology Institute or the Industrial Development Board, you may apply under this category.

 The amount of the grant is Rs. 50,000/-


7. Marriage

 When you marry, you may apply under this category.

 The amount of the grant will be Rs. 5,000/- for minimum credit balance maintained between Rs. 20,000/- and Rs. 50,000/-. An additional. 5,000/- will be given per each.
Rs. 100,000/- maintained thereafter.
In the event of both parties to a marriage being accountholders, only one claim will be entertained.

8. Accident or Natural Disaster

 If you are displaced due to an accidental or natural disaster to your home, you may apply under this category.

 The amount of the grant is Rs.5,000/- for a minimum balance maintained between Rs.20,000/- and Rs.50,000/-. An additional Rs.5,000/- will be given for each additional Rs.50,000/- that you have in the account thereafter.

 Claims must be made within two weeks of the event.


9. On your 60th Birthday.

 A gift of valuable wristwatch on your 60th Birthday.
   (Account Holders only)


10. The Birth of your Baby.

 A gift of  Rs 5000 on the birth of your baby (Account Holders only).

11. Golden wedding anniversary

 Accountholder having celebrated the 50th wedding anniversary will be eligible to receive a reward of Rs. 5000/-
In the event of both parties to a marriage being accountholders, only one claim will be entertained.

HOW OFTEN CAN I RECEIVE GRANTS ?


For a period of 365 days from the date of application

 only one claim

 for any one event

 under any one category

will be made respective of

 number of accounts held joinly or individually

 number of claims submitted by different parties.

 You can apply once a year under each category. (Only one claim can be met for any one Account per year under any one category irrespective of the number of joint Accountholders).


*Immediate family members of the customer:

 If married - Spouse and unmarried children under 18 years of age.
 If unmarried - Parents and unmarried brothers of sisters under 18 years of age.

Amount disbursed for claims will depend on the minimum balance maintained during the qualifying period.

Only personal current and savings accountholders will qualify for the Scheme

Claims should be submitted within 3 months of the event except in the case of a natural disaster, where the claim should be submitted within two weeks of the event.

For more details please contact 2347777 or the nearest Seylan Bank Branch