ComBank-ACH facilitate overseas education for Sri Lankans

Commercial Bank Assistant General Manager Personal Banking/Retail Products Development Kapila Liyanage and ACH Education Managing Director Chanaka Palihakkara exchange the agreement in the presence of representatives of the two institutions

The students aspiring for overseas education can now avail of opportunities available and raise the needed funds with ease, as a result of a collaboration between Commercial Bank of Ceylon and the Australian Centre For Higher Education (ACH).

A memorandum of understanding between the bank and ACH Education (Pvt.) Ltd paves the way for students to open their Student Files from Commercial Bank and obtain education loans to pursue higher studies at ACH-affiliated universities in Australia, New Zealand, Canada, the UK and many other European countries.

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.

The bank said it would provide loans to cover 80 percent of the course fee up to Rs.10 million, with a grace period of two years to service only the interest, before commencing the capital repayments of the loan. Additionally, applicants would benefit from a special 0.5 percent rate reduction from the existing rate, a waiver of 50 percent on documentation charges and a waiver of 50 percent on telegraphic transfer charges.

ACH Education has its head office in Australia. Its regional office in Sri Lanka offers students virtually unlimited opportunities to gain access to high-quality education at partner universities, institutes and colleges at affordable prices. ACH provides a full suite of services, covering English language testing (IELTS), visa assistance and pre-departure advice.