Students aspiring for overseas education can now avail of opportunities available and raise the needed funds with ease, as a result of a collaboration between Commercial Bank of Ceylon and the Australian Centre For Higher Education (ACH).
A memorandum of understanding between the Bank and ACH Education (Pvt) Ltd. paves the way for students to open their Student Files from Commercial Bank and obtain education loans to pursue higher studies at ACH affiliated universities in Australia, New Zealand, Canada, UK and many other European countries.
Commercial Bank offers education loan facilities with flexible terms, for both employed and unemployed students who are pursuing local and foreign education. These loans come with a longer repayment period and attractive interest rates.
The Bank said it would provide loans to cover 80% of the course fee up to Rs 10 million with a grace period of two years to service only the interest, before commencing the capital repayments of the loan. Additionally, applicants would benefit from a special 0.5% rate reduction from the existing rate, a waiver of 50% on documentation charges and a waiver of 50% on telegraphic transfer charges.
ACH Education has its Head Office in Australia. Its regional office in Sri Lanka offers students virtually unlimited opportunities to gain access to high quality education at partner universities, institutes and colleges at affordable prices. ACH provides a full suite of services, covering English language testing (IELTS), visa assistance and pre-departure advice.
Commercial Bank is the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and has the highest market capitalization in the Banking Sector in the Colombo Stock Exchange (CSE). The Bank is the largest lender to Sri Lanka’s 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 Microfinance company in Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives. The Bank’s fully-owned subsidiary CBC Finance Ltd. also delivers a wide range of financial services via its own branch network.
