ComBank launches ‘Cash on FD’ facility
The Commercial Bank of Ceylon has introduced a ‘Cash on Fixed Deposits’ (FDs) facility which enables depositors to withdraw against their FD value through a Debit or Credit Card linked to their accounts.
The Bank said the facility has been especially designed to meet any unforeseen financial requirements of the Bank’s FD clientele.
In case of an emergency, customers that have the‘Cash on FD’ facility will be eliminated from the requirement to uplift their FD accounts, in mid-contract, which would lead to a loss of the contracted interest earnings.
Upon opening a Fixed Deposit for one year or more with a minimum value of Rs 100,000 customers can avail of this ‘Cash on FD’facility, to withdraw cash up to 90% of the FD value through a Debit card, the Bank said.