ComBank partners Moratuwa University to support academic research

The Commercial Bank of Ceylon has come forward to provide a stimulus for academic research in Sri Lanka via a ground-breaking collaboration with the University of Moratuwa (UoM), the country’s leading provider of technological higher education.

Sri Lanka’s largest private bank has announced it is partnering with the University to offer education loans with preferential interest rates and other benefits to postgraduate research students.

The first lending institution in the country to specifically support research candidates accepted into UoM’s research programmes, the Bank said it will provide education loans of up to Rs 500,000 with an annual interest rate of 9.5%. The tenure for these loans will be six years, including a three-year grace period.

The Bank’s special loan scheme also offers fee waivers and affordable repayment structures that include an interest-only grace period, to enable this student segment to finance programme fees with peace of mind and focus on research goals without being burdened with loan commitments, the Bank said.

Commenting on the launch of this special loan scheme, Commercial Bank Chief Operating Officer Sanath Manatunge said, “We hope more students will be encouraged to participate in research that will contribute towards the expansion of the knowledge base in the country and inspire innovation.”