Your dream house becomes a reality with our financial assistance. SMIB is committed to uplift your living standards with personal loans, EPF loans and vehicle loans.

1. Personal Loan Scheme
2. Personal Loan Scheme for Professional
3. SMIB Mortgage Loan Products

1. 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 block of land to build a house
To add a new part to a house/extensions
To complete a partly built house
To redeem loans obtained from a recognized Financial Institutions for housing purposes
To purchase of machinery, equipment, and construction of factory buildings
To purchase machinery/equipment and vehicles used for agricultural purpose or for tourism industry
To purchese properties used for agricultural purposes
To finance the requirements of tourism agricultural and fishing industry

 

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
  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

 

2. PERSONAL LOAN SCHEME FOR PROFESSIONAL

 

Eligibility


      Confirmed, permanent employees in Government ,Semi- Government Or Private sector ,
  Be 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;
          To Construct or Purchase a house
  To purchase a block of land to build a house
  To add a new part to a house /extensions
  To complete a partly built house
  To Repay a loan obtained from a recognized financial institution for housing purpose (Redemption)
  Agriculture ,Industrial ,Fishing and for Tourism purposes

 

Loan Amounts


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

 

The repayment period  -


     Minimum  -  1 year
  Maximum   - 7 years

 

Other conditions


      Age Limit between 18-55 years of age
  The loan rental (EMI) should be deducted from the applicant/s salary
  Net Salary to remitted to the SMIB savings a/c

 

Security


       No guarantor with a Loan protection policy or
  One Personal Guarantor
  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 (Max Rs.20,000/-)

 

3. SMIB Mortgage Loan Products

 

Housing Purposes


      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.

 

Other Purposes


       To purchase machinery, equipments, etc and to construct factory buildings
  To purchase  agricultural machinery/equipment
  To purchase agricultural property and vehicles used in agriculture industry
  For the financial requirements of the small & medium enterprises
  To purchase vehicles for the tourism industry
  To finance tourism, agricultural & fishing industries 

 

Eligible borrowers


  Salaried employees
  Business/self Employed
  An income-tax payer
  Income earners from Agriculture (small & medium enterprises)
  Persons Employed overseas
  Migrant Employees registered with Sri Lanka Bureau of Foreign Employment(SLBFE)
The loan amount  depends on the applicant’s


       Age
  Income
  Value of the property
Security
      The land on which the loan is utilized Or another  Security to be mortgage.

 

DOCUMENTS REQUIRED FOR THE LOAN
Personal Details
       National Identity Card  / valid Passport and a photo copy
 Proof of Income
        If you are a salaried employee,
  Salary confirmation and
  certified six monthly pay sheets from the employer
  If you are an income tax paying business person,
  3 years of Income Tax Reports
  Audited financial statements
  Bank statements for the last six months
  Self  employment-
  Financial statement with income

 

Documents  related to the security offered
      Original Deed and a photo copy 
  Approved Original Survey plan and a photo copy
  Extracts from relevant Land Registry to cover the title up to 20 years.
  Approved building plan ( if required )
  Estimate for Construction
  Certificate issued by the Grama Sevaka
  Title Report (if required )

 

Documents to be obtained from Local Government Authority:
            Street line Certificate (only if applicable)
  Certificate of non vesting
  Certificate of ownership
  Notice of Rates Assessment (current year)
  Receipt for payment of Assessment Rates for the last quarter of current year.

 

Bank charges

 

  Valuation fee
  Credit Information Bureau fee
  Insurance Policy fee (if applicable)
  Legal fees
  Initial Deposit – Rs 1000/=

 

Speed Loan
 

 

Security Documents  as above
Personal Documents as above
Initial Deposit – Rs 10000/=

Bank charges
The Loan will be granted within   5 working days

Priority Loan 


Security Documents  as above
Personal Documents as above
Initial Deposit – Rs 5000/= 
Bank charges

The Loan will be granted within   10 working days

Personal Loan over property Mortgage 
 


Security Documents  as above
Personal Documents as above
Bank charges

The entire loan will be released at once .
Maximum Loan amount -Rs 5Mn

 

  • 269, Galle Road,
    Colombo 03, Sri Lanka
  • Hotline  1922
  • Fax +94 11 257 3346
  • This email address is being protected from spambots. You need JavaScript enabled to view it.

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