ComBank-Lead Pro Education broaden access to overseas study

Commercial Bank Assistant General Manager Personal Banking Kapila Liyanage exchanges the agreement with Lead Pro Education Consultants Director Indika Rathnayaka in the presence of representatives of the two companies

Commercial Bank of Ceylon has entered into a partnership with Lead Pro Education Consultants (Pvt.) Ltd to provide affordable financial solutions to students planning to pursue higher education overseas. 

The two organisations formalised their collaboration through the signing of a memorandum of understanding, under which students will benefit from a comprehensive education loan package and streamlined banking facilities.

Lead Pro Education Consultants, which maintains affiliations with a large network of universities in Australia and New Zealand, offers advisory and placement services to students aspiring to study in these countries. Through this agreement, students who engage Lead Pro for placements can open a Student File with Commercial Bank and access loans designed specifically for overseas education.

The education loans available under this scheme can finance up to 75 percent of the total course fees, up to a ceiling of Rs.10 million per applicant. The borrowers are entitled to a grace period of up to two years before repayment begins, easing the financial burden during their period of study. In addition, they will receive a 50 percent reduction in documentation charges and a 50 percent discount on the first Telegraphic Transfer fee of Rs.7,500, further lowering the cost of setting up their arrangements.

This latest initiative by Commercial Bank is intended to make overseas study more accessible by offering affordable repayment options and raising awareness about the bank’s education loan facilities, the bank said. Students will also have the opportunity to manage their ongoing banking requirements with Commercial Bank, benefitting from preferential rates and dedicated support throughout their studies.