Leasing and vehicle loan rates in Sri Lanka
Published leasing and vehicle loan rates, read from each bank’s own website.
Rates checked 14 October 2026 on each bank’s own website
In short
- BOC leasing: 12.75–14.50% for brand-new vehicles and 14.00–16.50% for registered ones.
- NSB vehicle loans: 13.00% for new vehicles and 13.50% for registered ones, for up to five years.
- From 25 May 2026, the Central Bank tightened the maximum loan-to-value limits on credit for motor vehicles by 10 percentage points, so you need a bigger down payment.
- On Rs. 5 million over five years, 12.75% instead of 16.50% saves about Rs. 587,766.
Rates compared
| Bank | Loan | Rate a year | Terms | Source |
|---|---|---|---|---|
| Bank of Ceylon (BOC) | Leasing, unregistered (brand new) motor vehicle | 12.75% – 14.50% | — | Bank’s site |
| Leasing, registered motor vehicle | 14.00% – 16.50% | — | ||
| Leasing, machinery | 17.50% | — | ||
| National Savings Bank (NSB) | Auto loan, brand new or unregistered vehicle | 13.00% | up to 5 years | Bank’s site effective 10 September 2026 |
| Auto loan, registered vehicle or redemption | 13.50% | up to 5 years |
Leasing or a vehicle loan?
With a lease, the leasing company owns the vehicle until you pay the last rental. With a vehicle loan, the vehicle is registered to you and pledged to the bank as security. Compare the total cost of both, not just the rate.
Fees
BOC charges an upfront documentation and service charge of Rs. 7,500 on leases up to Rs. 5 million and Rs. 10,000 above that, and no fee for ending a lease.
Loan-to-value limits
From 25 May 2026, the Central Bank tightened the maximum loan-to-value limits on credit for motor vehicles by 10 percentage points, so you need a bigger down payment. CBSL announcement.
What the rate means for your instalment
Rs. 5,000,000 over five years: at 12.75% about Rs. 113,127 a month; at 16.50% about Rs. 122,923. Leasing companies may work out rentals differently, so ask for the full schedule.
A bank loan or an online loan?
Bank loans like these cost around 11–15% a year. Online loans are faster but cost from 190% APR to over 800% a year, so use them only for small, short, urgent needs. Compare bank personal loan rates.
Frequently asked questions
What is the leasing rate in Sri Lanka today?
BOC publishes 12.75–14.50% a year for brand-new vehicles, 14.00–16.50% for registered vehicles and 17.50% for machinery. NSB’s vehicle loans are 13.00–13.50%.
How much down payment do I need for a vehicle?
From 25 May 2026 the Central Bank cut the maximum loan-to-value limits on vehicle credit by 10 percentage points, so you need to put down more than before. Ask the lender for the limit on your vehicle type.
Is leasing better than a vehicle loan?
It depends on the total cost. Compare the rate, fees and the full repayment schedule. With a lease you only own the vehicle after the last rental.