The Commercial Bank of Ceylon has cut interest rates on Gold Loans 1- 11 % from 14 % per annum which it says would enable borrowers to raise money at less than 1 % per month, one of the lowest rates for such loans in the country.
Simultaneously, the bank, in an announcement, said it has substantially increased the value of the advances for 22kt and 24kt gold sovereigns for loans above Rs 10,000.
Gold Loans can now be obtained from 154 Commercial Bank service points island wide. All necessary facilities to protect the privacy of customers including a separate, dedicated cubicle and sophisticated equipment to test and weigh gold are available at these units which are staffed by personnel trained by industry experts to advise and serve customers. |
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