ComBank announces revised deposit values for Millionaire investment plan

A committed fixed monthly deposit of just Rs.4,280 can begin the journey to millionaire status following an upward revision of the interest rate applicable to the popular aspiration-linked Millionaire investment plan of Commercial Bank of Ceylon to 15 percent per annum.
Reflecting the upward movements of interest rates, Sri Lanka’s benchmark private sector bank has announced the new monthly deposit requirements for two to six-year plans. Plans culminate in the depositor amassing the milestone million-rupee account balance, under this unique investment plan originally launched in 2015.
Accordingly, a fixed monthly deposit of Rs.35,600 over two years, guarantees the depositor an amount of Rs.1 million and a deposit of half that value – Rs.17,800 a month – will enable the depositor to accrue a balance of Rs.500,000 in two years or to become a millionaire in four years, the bank said.
Designed to be a flexible, easy-to-manage investment plan that generates expected returns within a targeted period of time, Commercial Bank’s Millionaire account enables customers to build up a minimum balance of Rs.500,000 or multiples of Rs.500,000 with no upper limit on the targeted investment over a period of two, three, four, five or six years.
The product retains another popular feature – the eligibility of the depositor to borrow an amount equivalent to up to 75 percent of his or her cumulative balance for any urgent requirement during the term of the investment plan.