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Commercial Bank of Ceylon plc

04/06/2021 | News release | Distributed by Public on 04/06/2021 04:30

ComBank’s ‘Leasing Vaaré’ returns to offer special rates on vehicle leases

The Commercial Bank of Ceylon has announced the much-awaited return of its 'Leasing Vaaré' promotion during which buyers of vehicles can enjoy lower interest rates and affordable lease rentals on new automobiles as well as on trade-ins.

Coupled with special offers of selected reputed vehicle dealers, Commercial Bank's Leasing Vaaré will run until 30th June 2021. In addition to the reduced interest rates, customers can benefit from tailor-made leasing options to suit individual income patterns, including the Bank's Super Leasing and Hybrid Leasing facilities during this three month promotion, the Bank said.

The Bank's Super Leasing facility enables customers to purchase high-end vehicles at lower rentals, while offering easy repayment facilities and lower early settlement fees. The Hybrid Leasing facility also provides customers a means to purchase high-end vehicles at lower rentals, and does so by enabling the customer to pay half the standard rental during the first year, the standard rental for the rest of the lease period, and the balance amount as the last rental. This facility also offers an easy repayment scheme and enables customers to extend the lease tenure by an additional two years to repay the balance amount.

This is Commercial Bank's fifth Leasing Vaaré promotion. The promotion has been conducted periodically to provide aspiring vehicle owners and those looking to upgrade their rides with affordable lease rentals complemented by lower interest rates, whilst enhancing the position of the Bank in the leasing market.

As the pioneer in providing best leasing solutions to its leasing customers, Commercial Bank has partnered with many reputed vendors during the Leasing Vaaré promotion. These include a partnership with Associated Motorways (Private) Limited (AMW) to offer attractive leasing packages to trade-in existing vehicles, special rental rates on purchases of New Holland tractors and other agricultural vehicles; and joint promotions with Ideal Motors and Unimo Enterprises for concessions on the lease rentals of locally assembled vehicles, especially SUVs.

The first Sri Lankan Bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 10 years consecutively, Commercial Bank operates a network of 268 branches and 890 ATMs in Sri Lanka.

Commercial Bank's overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.