Ceylon Bank India

Bank of Ceylon is among the most prominent commercial banks in Sri Lanka, having more than 300 domestic and 3 overseas branches and a single seaward branch monitoring online proceedings and redundant activities. This Bank of Ceylon, often abbreviated as BOC, instituted their first office in India at Chennai in 1995. The Ceylon Bank Of India caters to all types of demands and specifications of their customers and has become a prominent name in the sphere of banking. It has a considerably wide network of ATM counters and an easy access to its online transactions.

Customers of Ceylon Bank Of India always return with a happy face due to the commendable service provided each time they wish to perform any banking operations. Home loans and Personal loans have become less cumbersome as they are sanctioned by the bank in accordance with the present trend of banking market.

You can often decide upon purchasing a house, build or construct a home or even renovate and repair old damages, due to which you need to borrow a loan from the bank. Ceylon Bank Home Loan is designed amply to suit your specifications and brings forward three different kinds of loans, namely-

Ceylon Bank Home Loans

BOC Sarani House Loan - This lets you draw a loan amount of maximum Rs. 3lakhs with a repayment span of 5 years at a rate of 5% p.a and a security parameter of mortgage over property. However, for being eligible to draw the loan, you need to be a NRFC account holder having at least US$250 as outstanding balance or a tantamount balance in any other currency for 6 years.

Special housing loan scheme – This would sanction you a loan amount of 1 million with double the Statutory Liquid Ratios, a security of property mortgage and repayment tenure of 10 years. The interest rate is marked at 1% beneath the on-going lending rate of the priority sectors and 18% p.a. Eligibility is the same as Sarani house loan only with an outstanding balance amount of US$500.

Rupee Loans – you can draw a loan amount of 90% off the value of NHRC Deposits with a repayment of 5 years at an interest rate of 16% p.a. and in case of an overdraft, the interest rate is 16.5%p.a. You need to possess a NRFC deposit as eligibility criteria.

The Ceylon Bank Internet Banking operates to provide funds transfer, account inquiry, utility bill payments and queries regarding credit card transactions and defrayments. You can also view all types of transaction details, both present and past. To enjoy the Ceylon Bank Online facilities, you need to create a user id and a password and register yourself.