ComBank slashes home loan interest rates

The Commercial Bank of Ceylon has further reduced interest rates applicable to the Bank's home loans along with fast-tracked approvals and discounts from selected suppliers of materials and fittings.

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, a Bank official said.

For fixed income earners, home loans are approved within three working days on receipt of all specified documents.

The Bank has secured discounts up to 35% from building material suppliers on selected items such as cement and allied products, paint and woodcare products, floor and wall tiles, roofing sheets, electrical wiring, switches and electrical accessories, and bathroomware and accessories for customers who obtain home loans for construction purposes, the official said.

"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 to give customers the best deal possible," said Commercial Bank, Deputy General Manager, Personal Banking, Chandana Gunasekera.