Students aspiring to study overseas can now benefit from a special loan scheme offered by the Commercial Bank of Ceylon, following the signing of a Memorandum of Understanding (MoU) with Austasia Education Consultants (Pvt) Ltd. (AusAsia Education), a leading student placement agency in Sri Lanka.
This strategic partnership will facilitate the promotion of the Bank’s Education Loans for Student Files and overseas study financing, enabling students to access financial support with attractive terms as they pursue higher education in countries such as Australia, New Zealand, UK, Canada, Malaysia and Singapore.
AusAsia Education is affiliated with a wide network of reputed international universities and institutions, and its clients can now open Student Files with Commercial Bank and apply for education loans up to 75% of the course fee, subject to a maximum of Rs 10 million, with flexible repayment terms and a grace period of up to two years. Applicants will receive a 50% waiver on documentation charges and their first Telegraphic Transfer fee.
The MoU between the two organisations was signed by Commercial Bank Assistant General Manager – Personal Banking Mr Kapila Liyanage and the Managing Director of AusAsia Education Mr Niroshan Ranaweera.
Through this collaboration, students gain the advantage of working with a trusted education consultant
and a banking partner that offers comprehensive banking solutions together with preferential interest rates tailored to their academic journey.
Commercial Bank is the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and has the highest market capitalisation in the Banking Sector in the Colombo Stock Exchange (CSE). The Bank is the largest private sector lender, the largest lender to the 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 fully-fledged Tier I Bank with a majority stake in the Maldives, and a Microfinance company in Myanmar. The Bank recently opened a representative office within the Dubai International Financial Centre (DIFC), taking a significant step towards broadening its global footprint. The Bank’s fully-owned subsidiary CBC Finance Ltd., also delivers a range of financial services via its own branch network.
Photo caption:
Commercial Bank Assistant General Manager – Personal Banking Mr Kapila Liyanage and AusAsia Managing Director Mr Niroshan Ranaweera exchange the agreement in the presence of representatives of the two companies.
