Leasing Interest Rates.....?

[zerocool]

So looks like personal loan is the best option

Now please recommned the best bank to obtain a loan......

I think government banks have the lowest interest rates, check NSB. But normally the process will be longer unless you know the manager or someone (if you know what i mean). As we all know anything government is slow except for tax changes.

Currently the commercial bank is having 15% interest rate for loans. I'm sure others will be able to provide some more info.

Edited July 16, 2010 by zerocool

[Gayan Weerakoon]

so then looks like commercial bank is the lowest intrest rate. Government banks have shit service so no point going there.

Any idea about NDB and HSBC?

[overTuned]

So looks like personal loan is the best option

Me too think that the personnel loan is the best option since your vehicle not mortgaged and you're the absolute owner of your vehicle. So you have the freedom to Insure with anyone, sell at any time ect ..than a lease.. But practically getting personnel loan from a bank is very hard than getting a lease. So most ppl selecting the easy way..

Now please recommned the best bank to obtain a loan......

AFAIK, HSBC & NDB both are ok with loans but better to hang on with fixed rates..

[Tilak]

My experience is, you shouldn't go by the interest rates quoted by these companies as there are different ways of applying /calculating the rates. Always compare initial payment, monthly payments (Iinclusive of any taxes, stamps, etc.) & period. some time you end up paying more with a company quoting a lower rate than a one with little higher rate.

[isurujosh]

so then looks like commercial bank is the lowest intrest rate. Government banks have shit service so no point going there.

Any idea about NDB and HSBC?

HSBC personal Loan, 15.5 Fixed

[Gayan Weerakoon]

When i called HSBC few weeks back they said they give personal loans only upto 9 times your take home pay or some crap like that can some one please confim this?

HSBC is very professional in service is but more and more becoming a Rich mans bank...

[isurujosh]

When i called HSBC few weeks back they said they give personal loans only upto 9 times your take home pay or some crap like that can some one please confim this?

HSBC is very professional in service is but more and more becoming a Rich mans bank...

yes it's about 10 times your net salary you can borrow. but if it is a company that they have known for some time then they become more generous.

[seeker]

so then looks like commercial bank is the lowest intrest rate. Government banks have shit service so no point going there.

Any idea about NDB and HSBC?

Heard that DFCC is giving a better rate than Commercial... even though we don't see much advertising.... Planning to call on Monday..

[Gayan Weerakoon]

Heard that DFCC is giving a better rate than Commercial... even though we don't see much advertising.... Planning to call on Monday..

Cool let us know the details about DFCC

[xXx]

Sir,

I have leasing with Commercial leasing Their leasing interest at the moment is 14%

for example you take a leaseing for 3 years.

VAT AMOUNT IS DIVIDED TO 36 EQUAL PORTIONS DEPENDING WHAT IS THE VAT% AMOUNT YOU HAVE PAID AMOUNT AND YOU NEED NOT PAY ANY INTEREST FOR SAME

If your leased amount is 1M sellers Invoice says he had paid 20% VAT. THAT AMOUNT TOTALS TO .2M.

Then you pay interest only for .8 M WITH ADDED VAT EQUAL PORTIONS .2M DIVIDED IN TO 36 INSTALLMENTS.

.8M WILL GET REDUCED WITH THE INSTALLMENT GO ON AND INTEREST IS CHARGED TO BALANCE REDUCED CAPITAL AMOUNT ONLY. VAT CHARGE WILL BE SAME AMOUNT ONLY ADVANTAGE IS I DO NOT PAY INTEREST FOR VAT.

I have taken OD facilities also.

I hope this is correct what I pay now if there is an mistake please do correct me.

Like to hear other members comments of above.

Wijesinghe.

nice one Sylvi very well explained.

As someone said its ahrd to get a personel loan. As Isurujosh said said to your HR department and see if they have a employe loan scheme with a bank. That way you'll be able to get a bigger loan at an attractive interest rate.

[Sylvi]

nice one Sylvi very well explained.

As someone said its ahrd to get a personel loan. As Isurujosh said said to your HR department and see if they have a employe loan scheme with a bank. That way you'll be able to get a bigger loan at an attractive interest rate.

xXx.

Sir,

Thank for your comment for my detail post.

Please note all banks will want a Guarantor one or two persons to Sign for documentation.

If any one wants any more information from Commercial Bank I can find and post to The forum.

Wijesinghe.

[Sylvi]

is that cheaper than personal loan still? sorry i am quite ignorant about VAT thingy and that is why i am asking.

Mr.Isurujosh,

When a vehicle is imported to the country Vat is paid by the importer he later give a VAT amount what he has paid to the import on his selling cost.

I have taken personal loans Over drafts from Commercial bank this do not have I think VAT will Check up and inform to the Forum. I have very few facility's from the Commercial Bank they give me because I have been With Eastern bank transformed to Commercial Bank and all my remittances come to the said bank and they know my repay capacity.

Wijesinghe.

[jami]

I have obtained a loan frm NDB bank, no guarantees to sign, easy and good service. i think leasing is the best option if you can get frm PLC or SANASA leasing even NDB leasing is good but rate is a little bit high.

[Sylvi]

I have obtained a loan frm NDB bank, no guarantees to sign, easy and good service. i think leasing is the best option if you can get frm PLC or SANASA leasing even NDB leasing is good but rate is a little bit high.

Sir,

I checked from a senior banker his advise is go for Personal loan but if you take personal loan for the full valuve with vat then you pay interest on VAT on personal loan.

Because total car value if it is 1M unregistered then there is a VAT amount is free from interest for a Lease.

Have to calculate and find out which is more profitable to the car owner.

My commercial bank lease for my vehicle installments I pay interest on reducing capital.

There may be Bankers who are members who can give better advise to all Forum members.

Wijesinghe.

[zerocool]

Sri lankan banks are retarded , your basic salary can be over 100 thousand but if your company is not a recognized one they don't give you any loans. WTH

Edited July 21, 2010 by zerocool

[Jaylah5]

Interest rates affect both home buyers and people who rent. If interest rates go up, the value of homes goes up, and that encourages people who are renting to buy. The following article https://www.nyrentownsell.com/blog/housing-market-affected-by-interest-rate-hikes/ will discuss, If interest rates go down, the value of homes goes down, so landlords raise rents and encourage tenants to look for houses or apartments to buy.

Edited July 28, 2022 by Jaylah5