The Floating Rate has been reduced to 9.5%, while the Fixed Rates have been reduced to 10.5% and 12% for loans up to 10 years and above 10 years respectively, the Bank said.
For fixed income earners, Home Loans are now being approved within three working days on receipt of all specified documents.
Apart from that, the Bank said it has secured discounts up to 35% from building material suppliers on selected building materials such as cement and allied products, paint and wood care products, floor and wall tiles, roofing sheets, electrical wiring, switches and allied electrical accessories, and bathroom ware and accessories for customers who obtain Home Loans for construction purposes.
“Supporting the aspirations of Sri Lankans to build their own homes fits perfectly with our brand promise of ‘For a Better Future.’ We therefore periodically review products like Home Loans in order to give our customers the best deal possible.
Our Online banking customers can apply for Home Loans through the online banking platform,” said Chandana Gunasekera, Deputy General Manager – Personal Banking at Commercial Bank.
Commercial Bank Home Loans are available for the purposes of purchase of land, a house or condominium apartment, construction of a house, purchase of land and construction of a house, renovations, extensions or completion of construction or for repayment of a home loan obtained from another institution.
The Bank even offers foreign currency Home Loans designed for Sri Lankans working overseas who are in a position to repay the loan in foreign currency.
Applicants are also offered the flexibility and convenience of choosing the loan amount according to their specific requirements and income, and a maximum repayment period of 20 years.
Applications for Home Loans are available at any of Commercial Bank’s 238 branches and can be downloaded from the Bank’s website www.combank.lk
The only Sri Lankan bank to be ranked among the Top 1000 banks of the world for four consecutive years (2011-2014), and ranked the most valuable private sector brand in the country in 2014, the Commercial Bank has won multiple awards as Sri Lanka’s best bank over several years, and was adjudged one of the country’s 10 best corporate citizens by the Ceylon Chamber of Commerce in 2013.
The Bank has been rated the Most Respected Bank in Sri Lanka by LMD for the past 10 years, has been the second Most Respected Corporate entity in the country overall for the past four years, and been rated No 1 in Sri Lanka for Honesty in 2013 and 2014 by the magazine.
