If you are looking for a personal loans option that can help you deal with needs such as setting up or expanding your professional practice or purchase of equipment to improve your business, or simply to purchase your dream car, look no further; A professional loan from Commercial Bank is there to help you.
Specially designed to cater to the needs of the busy professionals, the Professionals Loans Scheme from Commercial Bank comes to you with a very low rate of interest, easy on the purse repayment, minimum documentation and above all maximum convenience to you.
Eligibility
- Doctors registered with the Sri Lanka Medical Council
- Engineers registered with the Institution of Engineers of Sri Lanka
- Architects registered with the Sri Lanka Institute of Architects
- Accountants registered with the Institute of Chartered Accountants of Sri Lanka
- University Lecturers registered with Government Universities
- Or members of any other professional body acceptable to the bank
Purpose
- Setting up / expansion or purchase of equipment for professionals
- Purchase of vehicles, computers or household goods, furniture, fittings, practice appliances, etc…,
- Education of family members at any level locally or abroad.
- Travel abroad on business or pleasure.
- Wedding and other social functions.
- Repay credit card balances
- Repairs / extensions to buildings and payment of advance house rentals.
- Any other purpose, if acceptable to the Bank.
- Medical / Surgical expenses of family members
Loan Amount: Maximum loan amount Rs.3 million (Flexible, depending on the individuals disposable income, repayment capacity and requirements.)
Repayment period: Up to 05 years depending on age/ remaining years of practice/ service.
Rate of Interest: An exclusive interest rate will be applicable for the Professional loan scheme
Security: Guarantors / any other security will be requested as necessary depending on the particular loan
Documents required
- Copy of document of registration with respective governing body.
- Recent Salary Slip or documents evidencing income.
- Copy of a recent Utility Bill showing borrowers name and address
- Letter of undertaking from the Employer to remit the salary to the Commercial Bank Account.
