PERSONAL LOAN SCHEME 

Eligibility

 

Confirmed, permanent employees in Government, Semi- Government Or Private sector,

 

Employed in a recognized, established company.

 

Income 



  Applicants should have a gross monthly income above   Rs. 20,000/-
  Other income also will be considered

 

Purposes

   The loan will be offered;

  To construct or purchase a house
  To purchase a building site
  To complete construction of a new house or add new  extensions
  To repair or renovate an existing house
  To redeem loans obtained from a recognized Financial Institutions for housing purposes
  To obtain electricity, water supply facilities etc.

 

Loan Amount


  Minimum amount -  Rs.100,000 /-,
  Maximum amount -Rs. 4,000,000/-

 

Repayment period


  Minimum  -  1 year
  Maximum   - 7 years

 

Other Conditions



  Age Limit between 18-55 years (Loan should be repaid in full by the applicant's age of 60 years)
  The monthly loan installment should be deducted from the applicant’s salary or net salary to be remitted to SMIB saving accounts

 

 

Guarantor


  One Personal Guarantor for high net worth clients
  Two personal Guarantors
  Spouse cannot be a guarantor

 

Interest rate  –   Please refer our web site's "Rates" tab for interest rates.

 

Charges


  Documentation charges - 1% from the loan amount (Maximum Rs.20,000/-)
  Credit Information bureau fee
  Stamp duty
  • 269, Galle Road,
    Colombo 03, Sri Lanka
  • Hotline  1922
  • Fax +94 11 257 3346
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