Bank of Ceylon India

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About Bank of Ceylon

Bank of Ceylon India is one of the well known foreign banks which have branches in India. It is a premier bank in Sri Lanka and is known for its facilities and services of high standards. Due to its popularity and repute, more and more people in the Indian sub continent are opting for the services in Bank of Ceylon India.

The Bank of Ceylon India is also known as Ceylon Bank. It is referred to in its abbreviated name “BOC” as well. It is a well-known government owned and controlled commercial bank. The headquarters of the bank is located in the city of Colombo while it has around 303 domestic and 3 overseas branches. There is also an off shore banking unit which looks after the online transactions and other formalities.

The Bank of Ceylon has its office and branch in India in Chennai. The bank was set up and started its operations in Sri Lanka in the year 1939. Since its inception, the bank has been providing customized solutions and services in a number of financial fields and segments to become a trusted name in the banking industry. The Bank of Ceylon also established the Merchant Bank of Sri Lanka in the year 1982 for better reach and reception among the target market. The BOC Property Development Ltd was also established during the same time. Over the years, the bank also introduced the Ceybank Visa Credit Cards with a venture with VISA International. Some basic facts about the Bank of Ceylon India are:

Type Public
Founded 1939
Headquarters Colombo in Sri Lanka
Areas Served Sri Lanka, Maldives, India, United Kingdom
Products Banking and financial services

Products and services of Bank of Ceylon, India

Bank of Ceylon India offers an array of specialized facilities and services for its customers. The best think about these services is that they are designed keeping in mind the changing trends in the market. By being a customer of the bank, customers and enjoy great financial stability. Some of the well known segments in which the bank offers services are:

  • Personal Banking
  • Corporate Banking
  • Offshore banking
  • International and Treasury services
  • Development banking
  • Online banking

In case of personal banking, the Bank of Ceylon India is a trusted name. One can avail of a wide range of services and solutions by being covered in this segment. Some of the specialized facilities and personal banking services offered by the bank consist of current accounts, savings accounts, foreign currency deposits, term deposits, debit and credit cards and SIERA accounts.

Due to the high quality corporate banking facilities, renowned corporate houses and companies are becoming trusted customers of the Ceylon Bank. The corporate banking services offer the customized services which are meant to fulfill various business and marketing needs of the companies. Some of the well known services that are offered in this segment are:

  • Advances
  • Bank Guarantees
  • Funds Transfer
  • Trade Finance
  • Deposits

Bank of Ceylon also takes part in a number of development activities. The main objective of these services is to add to the overall economic scenario of the country as well as the world. The development banking activities are designed in a way to create a favorable environment for the economy to flourish. Some of the well known banking services undertaken by the bank are:

  • Housing
  • Transportation
  • Small & Medium Enterprises
  • Consumption
  • Education
  • Micro Farming
  • Micro Enterprises
  • Fisheries
  • Agri Business
To increase its customer base, Bank of Ceylon India has also introduced personal banking schemes. They are hassle free and very cost effective as well. By being enrolled under the online banking services, customers can enjoy fast and yet secure means of financial and banking transactions. One can opt for BoC e-cash services, BoC Online services and BoC e-Bank services.

Bank of Ceylon Loans

The Bank of Ceylon offers to its valued customers a variety of loans that cater to both individual and corporate clients. The Bank of Ceylon loans include Credit card facilities.

Corporate Loans

The Bank of Ceylon corporate loans are extensive and encompass a wide range of commercial requirements. The Bank of Ceylon loans bouquet includes:

  • Term Loans
  • Overdrafts
  • Leasing
  • Pre-shipment Finance
  • Money Market Loans
  • Import Advances
  • Syndicate Loans

Term loans of the Bank of Ceylon can be used to finance new and existing industrial projects. Loans are granted to fund the construction of buildings, purchase of machinery and other equipment. Money Market loans are required during times of urgent funding. The interest of this type of loans is dependent upon the Sri Lanka Inter Bank Offer Rate (SLIBOR) prevailing at the time of obtaining the loan. The tenure may be as small as 1 day and may extend up to a month.

Preshipment finance is granted to meet export related commitments. Import advances are granted against Letters of Credits including Documents against Acceptance (DA) and Documents against Payment (DP). Finance leases are employed to buy capital goods like motor vehicles, professionally used equipment, and machinery. Competitive rates are quoted.

Personal Loans

The Bank of Ceylon personal loans are competitive and covers a variety of spheres. The Sri Lankan bank offers to its customers the benefit of overdrafts. The facility is easily available when required. Bank of Ceylon home loans are available for construction and purchase of a house. Loans are also given for extension of the existing civil structure and repairs.

Official Website of Bank of Ceylon

Last Updated on April 24, 2015