ComBank’s special concessions on foreign university payments
View(s):The Commercial Bank of Ceylon has announced a series of attractive concessions for students making payments to foreign universities in the next three months.
The bank said in a media release that it would slash the initial telegraphic transfer (TT) charges by half for Sri Lankans opening new student files before November 30, 2024, and reduce the interest rate by 0.5 per cent for educational loans obtained before that date.
Students that choose Commercial Bank as their partner for overseas education payments would also be provided a UnionPay international debit card free of charge for hassle-free payments in their overseas destinations as part of this special promotion, the bank said.
Additionally, such students would benefit from simplified and expedited procedures and the bank’s strong network of international correspondent banks.
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. Additionally, students are eligible to enjoy a grace period of two years to service only the interest, before commencing the capital repayments of the loan facility.
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