A range of deposit products to suit your need, exclusively from Commercial Bank

Wednesday, 3 November 2010 01:17 -     - {{hitsCtrl.values.hits}}

World Thrift Day is about remembering how important it is to save.  Saving is a vital skill that everyone should develop and it is even more important to talk about, with the dawn of this special day.   To encourage customers to save, Commercial Bank of Ceylon Plc offers a range of attractive Deposit Products to suit anyone, anywhere….

Commercial Bank Savings Accounts

Awarded the ‘Best Bank in Sri Lanka’ for over a decade by the most respected global financial publications, Commercial Bank has been a front-runner in offering convenience-based banking to both Sri Lankans through the largest single ATM network and branches spread across the island as well to those living overseas through our exchange houses and correspondence banks worldwide.  The bank is honoured to provide a multitude of services ranging from Holiday Banking, Internet Banking, International Credit Cards and Shopping Debit Cards, Remittance Services, Priority Banking to name a few entwined by the most efficient and friendly customer service.  The range of Deposit products offered by Commercial Bank boasts of the most competitive rates in addition to a host of other privileges.

Isuru Minors’ Savings Plan

Isuru Minors’ Savings Plan is ideal for your newborn.  You can start your Isuru Account with just Rs. 500 and select between a Monthly Deposit Scheme with the selected amount ranging from Rs. 500 - Rs. 10,000 for a period of 3, 4 or even 5 years or a Lump Sum Deposit Scheme with a choice of deposit amounts ranging from Rs. 5,000 – Rs. 500,000

The most attractive feature of Isuru is the payment guarantee of over Rs. 2.5 Million at maturity.  Isuru also offers a payment assurance cover for the depositor in case of a sudden death or accident (for the full guaranteed amount to be paid to the beneficiary at 18 years) and is issued with an Entitlement Certificate.

Arunalu Childrens’ Deposit Account

Arunalu Childrens’ Savings Account offers an attractive interest rate of 7% p.a. (APR* 7.23%) for children from 1 year to 18 years of age. The account can be opened with a minimum initial deposit of Rs. 100 and can be withdrawn when the child is 18 years of age.  However, the amount can be withdrawn in case of an emergency (medical, education etc.) In addition, Arunalu also offers a very exciting Year 5 Scholarship cash prize scheme for the 1st, 2nd and 3rd highest mark gainers in every school and if a child becomes the district winner from the Year 5 examination, his/her Arunalu balance would be doubled upto a maximum of Rs. 50,000.

Commercial Bank Power Savings

Power Savings account can be opened with a minimum balance of Rs. 5,000 or more. Depositors are entitled to earn 40% BONUS on interest (APR 6.11%) at the end of each financial quarter (3 months), if any withdrawals are not made during the said period. In case of one or more withdrawals, the depositor would still earn 25% Bonus on interest (APR 5.44%).

As a whole, Power Savings Account is a ’strategic blend’ between a three-month Fixed Deposit and Savings Deposit compounded by the flexibility of making withdrawals.

Commercial Bank Super Saver

Super Saver is the breakthrough savings account introduced to the banking sector by Commercial Bank with the highest rate of interest of 6.25% p.a (APR 6.43%).  This product is targeted at the higher income earning customer segments of over 18 years of age and Commercial Bank Super Saver can be opened with a minimum initial deposit of Rs.50, 000 without any restrictions on the number of withdrawals. In addition, depositors can also request for a passbook or monthly or quarterly statements to monitor progress of their savings.   Super Saver also offers a FREE Instant ATM or Debit card, Express Personal Loans of upto 80% of the deposit balance with discounted rates, a concession of 50% on the joining and annual fee for Internet Banking and a host of other benefits

Dot Com Young Saver Account

Dot Com is a savings account catering for young savers who aspire to have more control and independence over their financial needs.  Youngsters aged 16 and above have the eligibility to open the account, giving them a greater sense of responsibility.  Targeted for children between the ages of 10 and 18 years, Dot Com offers an attractive interest rate of 6% p.a. (APR 6.17%).  Dot Com account can be opened with Rs. 1,000 and it also offers other benefits such as an exclusive DotCom ATM Card with a daily withdrawal limit of Rs. 5,000, an international credit card by the age of 18 years with free access to Online Banking facility.

Udara Senior Citizens Account

Udara can be opened by all who are 55 years or above in age with a minimum initial deposit of Rs. 5,000.  The depositors will be entitled to earn an additional interest rate of 1% over the normal interest rate paid currently on ordinary savings account.  An additional interest of 2% over the normal interest on ordinary Savings Accounts can also be earned upon the beneficiary reaching the age of 70.  A special entitlement card will be issued to the depositor enabling him/ her to discounted medical facilities and purchases of medicine from selected pharmacies across the island.

Commercial Bank Regular Savings Account

The Regular Savings Account of Commercial Bank can be opened with a very nominal amount and is suited to everyone from all walks of life. The interest rate is calculated daily and credited to the account. With the interest rate of 4.25%, with the flexibility of obtaining a passbook or statement, you can access your regular Savings through our widest network of ATMs and Branches

Commercial Bank Current Accounts

Our current accounts boast of a tradition of personalised and tailor-made solutions such as overdrafts, Internet Banking with cheque imaging facility, convenience of Saturday/Holiday banking outlets, reputed trade finance services, commercial and personal loans, easy access to branch managers and credit officers island wide to name a few. The recognition for Commercial Bank cheque leaf has been built up in the business circles over 40 long years and the Bank now welcomes all non-customers to testify the uniqueness of Commercial Bank Current accounts with a very flexible approach in opening formalities. Professionals and established business people with proven track records are invited to open current accounts with Commercial Bank to experience the difference and write a new success story in their lives at a time Sri Lanka emerges as an economic power house in Asia.

*APR is the Annualised Percentage Rate