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ComBank announces revised deposit values for popular ‘Millionaire’ Investment Plan

25 Aug 2022

As per the Commercial Bank of Ceylon, a committed fixed monthly deposit of 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 the Commercial Bank of Ceylon to 15% per annum.   Reflecting the upward movements of interest rates, Commercial 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% of his or her cumulative balance for any urgent requirement during the term of the investment plan.  


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