Commercial Bank PLC

Product of the bank,

1.       Savings Accounts

A.     Main Accounts

                                I.            Regular Savings Accounts

If you are a resident of Sri Lanka, over the age of 18 years, you can open this as an individual account or a joint account. The interest rate of this account is 3.50% P.A.

                              II.            Super Saver Accounts

You can open an account with a minimum deposit of Rs 50,000/-. Higher interest rates as your deposit value increases. A Loan facility up to 90% of deposit balance at a special concessionary interest rate. Commercial Bank Online Banking facility with a 50% concession on the startup and annual fee.

                           III.            Power Bonus Accounts

Flexibility of a Savings Account and the high interest available on a Fixed Deposit. A specialized Savings Account that pays a quarterly bonus of 60% on the interest earned. Power bonus is a great opportunity for first time wage earners as well as the self-employed. Also for small and medium scale savers can earn a high return. The minimum balance you need to maintain this account is Rs 5000/-.

Monthly interest paid- (60% more) – 3.5% P.A.

                           IV.            Personal Foreign Currency Accounts

You can apply for Sri Lanka rupee or foreign currency loans & advances at concessional rates. This facility enables you to retain the foreign currency deposits intact. Arrangements can be made for a member of your family or friend to operate this account on your behalf.

                             V.            Udara Senior Citizens Accounts

A special interest rate higher than the normal interest rate is offered (11.5% P.A.). additional interest rate up to 1% over the interest rate paid for regular savings account. 

B.      Minors and Youth accounts

                           VI.            Arunalu Children’s Savings Accounts

Cash prizes of Rs 10,000/-, Rs 7,500/- and Rs 5,000/- respectively for account holders who have gained the 1^st, 2^nd and the 3^rd   highest marks in school term tests. Interest rate per annum is 6.5%.

                        VII.            Dotcom Teen Accounts

Withdrawals up to Rs 20,000/- per day can be made through branch counters or ATMs.

                      VIII.            Anagi Women’s Savings Accounts

Minimum deposit of 1000/-

2.       Fixed Deposits  

I.                    Millionaire Accounts

Selectable investment period spanning from 2 to 6 years. Ability to receive any amount starting from Rs. 500,000/- (In multiples of Rs. 500,000/-). Instant loan up to a maximum of 75% of the account balance.

II.                  Money Market Accounts

Seven days’ prior notice is required for withdrawal of funds & a minimum account balance of Rs. 100,000/- should be maintained to earn the special interest rate (8.25% P.A.).

III.               Treasury Bonds

Maturity period ranges from 2 to 20 years.

IV.               Fixed Deposits

Get up to 90% of the deposit as a cash advance.

C.      Current Accounts

I.                    Achiever Current Accounts

Credit cards with the joining fee and the 1^st year annual fee. Account can be opened with a minimum deposit of Rs.10000/-. You will receive monthly statements of account. You also have the option of receiving e statements to an email address of your choice.

D.     Loans

I.                    Home Loans

Loan approval can be got in 3 days without any additional charges. Can have longer repayment period. And gives attractive and competitive low interest rates. To get this loan you should have a minimum monthly income of Rs.25000/-. This loans are available for,

·         Purchasing a house, apartment or land

·         Building a house

·         Completing a partially built house

·         Renovate, extend or complete a house

·         Paying off an existing home related loan

II.                  Foreign Currency Home Loans

The approval of the loan can be got in 3 days without any additional charges. And have longer repayment period. To get this loan you should be a Sri Lankan employed abroad who is in a position to service such loans in foreign currency and you could borrow from USD 25,000/- to USD 100,000/- or equivalent in other currencies mentioned above.

III.               Personal Loans

The maximum loan amount you can obtain is flexible, depending on your disposable income, repayment capacity and requirements. Your loan will be processed within a maximum of three working days, after submitting the loan application with all required documents.

You can obtain the lone for following purposes,

·         Purchase of vehicles

·         Payment of credit card balances

·         Higher education for you or an immediate family member – locally or abroad

·         Fund weddings or other social functions

·         Surgical and medical expenses

IV.               Green Loans

To obtain this loan you should be a permanent employee with a minimum monthly salary of Rs.50000/- and you should have a minimum service of 01 year in the current employment. Maximum repayment period for loan is 7 years. The loan is minimum of Rs.50000 and maximum of 3mn*

V.                 Pensioners’ Loan

This loan available for government pensioners. The minimum net pension should be Rs.15000/- per month. The minimum loan amount is Rs.100000/- and the maximum is Rs.2500000/-. The loan can obtain for followings,

• Renovations of your house
• Travelling abroad
• Surgical and medical expenses of family members
• Wedding expenses of children
• Educational expenses of children
• Settle existing loan/credit cards from other Banks

E.      Leasing

I.                    Green Leases

Leases to fund purchasing of hybrid vehicles, electric vehicles, solar panels & Other energy efficient machinery / equipment. To get this loan employee should be a permanent employee with a minimum monthly salary of Rs.50000/- and should have a minimum service of 01 year in the current employment.

II.                  Super Leasing

With ‘Super Leasing” you can pay part of the vehicle’s value at the end of the lease period-so your monthly rental is calculated for only a part of the value of the vehicle. Therefore, the monthly rental you have to pay is lower than of a regular leasing facility. This will enable you to buy a higher value vehicle at a lower monthly rental.