Announces series of special benefits and reduced lease rentals, valid till 31st May
As new vehicles begin arriving in the country after a lapse of several years, the Commercial Bank of Ceylon has announced it will support the aspirations of vehicle buyers with an attractive leasing package for a limited duration.
The Bank said it would offer special interest rates, customized payment plans, discounts on first-year insurance premiums, a waiver of 50% on commission fees with a minimum charge of Rs 10,000 on Letters of Credit opened, and a free credit card with joining fee and the first year’s annual fee waived off, for leasing facilities obtained before 31st May 2025.
Quick and hassle-free approval of leasing facilities and special discounts on vehicle spare parts would also be part of the package for these customers, the Bank said. These special benefits would apply to leases of unregistered vehicles.
Commercial Bank offers one of the lowest rentals on vehicle leases, Rs 1,598 for every Rs 100,000 for a seven-year lease.
Commercial Bank leasing customers have the option of tailor-made leasing options that suit individual income patterns, via the Bank’s Super Leasing and Hybrid Leasing facilities.
The Bank’s Super Leasing facility enables customers to purchase personal use vehicles at lower rentals with a residual as the last rental, while offering flexible repayment facilities and lower early settlement fees. The Hybrid Leasing facility also provides customers an opportunity to purchase high-end personal used vehicles at lower rentals, by paying interest only for the first year, a standard rental for the rest of the lease period, and the residual as the last rental.
Commercial Bank is the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and has the highest market capitalization in the Banking Sector in the Colombo Stock Exchange (CSE). The Bank is the largest lender to Sri Lanka’s SME sector, is a leader in digital innovation and is Sri Lanka’s first 100% carbon neutral bank. Commercial Bank operates a strategically located network of branches and automated machines island-wide, and has the widest international footprint among Sri Lankan banks, with 20 outlets in Bangladesh, a Microfinance company in Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives. The Bank’s fully-owned subsidiary CBC Finance Ltd. also delivers a wide range of financial services via its own branch network.
