Financial Times

The Commercial Bank of Ceylon has raised interest rates offered in its 'ComLeap' tiered interest savings accounts, launched earlier this year.

Customers can now earn up to 8 percent interest per annum on their savings, depending on the balances in their accounts. With the interest rate on a regular savings account being in the region of 4.5 pecent, ComLeap now offers its customers nearly double the normal interest, the Bank said in a statement. Customers can earn interest rates ranging from 5.5 per cent per annum on balances between Rs 100,000 and Rs 500,000 to 8 per cent per annum on balances over Rs 5 million.