ComBank launches ‘Vibe’– an exclusive Savings Account for youth

The Commerc i a l Bank of Ceylon has launched a new and a unique Savings Account designed exclusively to support the youth at one of the most decisive phases of life with special benefits that can help advance their aspirations, and to also reward achievements.

A ‘ Vibe Youth Account can be opened by any Sri Lankan between the ages of 18- 35 years, and will offer an interest rate that is 0.5% p. a. higher than regular savings accounts, provide employed youth Personal Loans, Leasing and Home Loans at interest rates that are 0.25% p. a. lower than published rates, and offer instant loans of up to 90% on their available account balances.

Furthermore, Vibe Account holders will be entitled to Educational Loans up to Rs 1 million. This facility will be available to the employed, self- employed professionals and non- employed youth. Laptop and Computer loans too can be applied for under the Personal Loans category, up to a value of Rs 175,000 or more if necessary, after evaluation of requirements.

Commenting on the launch of the new Savings Account, Commercial Bank’s Deputy General Manager – Marketing, Mr Hasrath Munasinghe said: “Youth is a pivotal and demanding stage in anyone’s life. It is a time in which major decisions about academics, career and life are made. Vibe was designed to support the youth in some of the challenges they face by exclusively catering to their typical and specific financial requirements.”