ComBank’s Green Home Loans scale new heights with Capitol TwinPeaks

Thursday, 18 January 2024 00:08 - - {{hitsCtrl.values.hits}}

Commercial Bank Retail Banking and Marketing Deputy General Manager Hasrath Munasinghe exchanges the agreement with Capitol Towers Chief Operating Officer Dhammike Wasanthakumara in the presence of Capitol Towers Sales Manager Thakshila Ariyawansa, Senior Sales Manager C. Thuwaregan, Commercial Bank Retail Products Department Chief Manager Dushmantha Jayasuriya and Home Loans Product Manager Hasela De Silva

The Commercial Bank of Ceylon has announced customised Green Home Loans for buyers of apartments at Capitol TwinPeaks, a high-rise mixed development with luxury residential apartments in Colombo that has already been certified Gold by the Green Building Council of Sri Lanka (GBCSL).

A Memorandum of Understanding signed by the Bank and the developer Capitol Towers Ltd. commits the two organisations to provide buyers a series of significant special benefits that would facilitate the purchase of apartments and the enhancement of their eco-friendly potential.

Capitol Towers Ltd. has undertaken to offer concessions of up to 40% on the prices of apartments under this arrangement. The Commercial Bank of Ceylon has agreed to offer loans at 1% lower than the published Platinum rate, 50% off document charges and discounts of up to 10% from five leading solar power products suppliers registered with the Bank’s Green Home Loans program.

These attractive special benefits will be available till 31 January 2024, the Bank said.

Commercial Bank’s Green Home Loans of up to Rs 50 million are available for the purchase of homes that have been granted Green Building Certificates by the Green Building Council of Sri Lanka, or for the construction of houses that will be so certified. Loans of up to Rs 5 million are available for the purchase of solar power systems, solar net metering systems or for any other green initiative such as waste or rain water management or composting that leads to Green certification.

The loans are repayable up to 15 years and can also be topped up periodically for maintenance or upgrades that improve eco-friendliness.

The Commercial Bank recently entered into a landmark cooperation agreement with the Green Building Council, laying the framework for the two institutions to work together to promote eco-friendly building constructions in Sri Lanka. The Bank and the Council have agreed to cooperate in activities related to the introduction of sustainable financing products by the Bank to facilitate transition to carbon-neutral and environmentally-sustainable economic developments under this agreement.

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