Commercial Bank’s ‘Leasing Month’ back this October
Monday, 7 October 2013 00:00
Commercial Bank will once again promote leasing as an attractive option for purchasing vehicles and equipment by designating October 2013 its ‘Leasing Month’.
Reprising the promotion it ran for the first time in 2011, the bank will offer a range of benefits including reduced lease rentals and competitive insurance cover to customers who obtain leasing facilities from Commercial Bank branches countrywide during the month.
Leases of brand new or reconditioned vehicles obtained in October will only cost Rs. 2,350 a month for every Rs. 100,000 in value, representing a substantial saving to customers for a five year lease, the bank said.
In addition, special insurance premiums can be arranged for owners of vehicles and equipment leased via the bank during the period of the promotion.
Several promotional activities supporting the Leasing Month have also been organised at branches of Commercial Bank throughout October for the convenience of customers.
Commercial Bank offers leasing customers a free professional advisory service, the success of which is reflected in the bank’s lease portfolio having one of the lowest default rates in the industry. Technical computations such as “Lease versus Buy” and “Lease versus Loan” analyses are provided by the bank to its customers to assist them in their decision making.
Elaborating on the benefits offered by the bank in this sphere, Commercial Bank’s Assistant General Manager-Personal Banking III Selva Rajasooriyar said: “We design flexible payment structures to suit individual requirements, assist with paperwork in importation of assets, and offer an extensive branch network with facilities such as opening of Letters of Credit (LCs). These represent important value additions when obtaining leasing facilities through Commercial Bank.”
“In addition, when leasing facilities are obtained for the importation of assets, the bank is able to offer specially reduced rentals, as it passes on the Tax benefits to its lessees,” he added.
Customised loan facilities are also available for Commercial Bank customers who wish to purchase registered vehicles.