HNB cuts rates on personal finance products ahead of Dec. season

HNB PLC on Thursday announced that it would be reducing interest rates on all of its core personal financial products – spanning leasing, housing and personal loans. 

Following the rate cut, interest rates on personal financial service products will start as low as from 13.25 per cent for professional category, for housing purposes. On new vehiicles, the bank currently offers up to 70 per cent of the total market value as a loan on registered vehicles and 50 per cent of the market value. 

HNB Head of Personal Financial Services Viraj Mendis said that in recent times there has been a significant demand for loans, particularly in the demographic of young professionals, many of who are seeking to buy a car, start a home, for professional studies or for any other investment activity.  

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