Saubagya COVID-19 Renaissance Facility
1. Eligible Activities and Eligible borrowers
1.1. Any Income Generating Activity/Economic Activity conducted/carried out by Micro, Small and Medium Sector Enterprises (MSMEs) prior to the COVID-19 outbreak, will be eligible to receive new loans for the revival of such activities.
1.2. Sub-loans under the “Saubagya COVID19 Renaissance Facility” will be granted to facilitate working capital requirements of the eligible sub-borrowers for their existing MSMEs.
1.3. Previous and existing sub-borrowers of the Saubagya Loan Scheme who have been adversely affected by the COVID-19 outbreak, will also be eligible for the relief granted under this Addendum.
2. Main Features of the “Saubagya COVID19 Renaissance Facility
Maximum Loan Limit |
Two months working capital requirement or Rs. 25 million whichever is higher |
Interest Rate | 4% per annum |
Grace Period | (i) Maximum duration of six (06) months depending on the nature of the activity. (ii) Borrowers are not required to pay both capital and interest during the grace period. |
Repayment Period |
Maximum duration of twenty-four (24) months including the grace period. |
3. Registration of Borrowers
The applicants/MSMEs should register in Credit Division of the Head office or in the nearest branch to obtain this facility and the credit division of the Head Office and branches will identify the applicants/MSMEs affected by COVID-19 outbreak and collect loan applications from such eligible borrowers on or before 30.04.2020.
For additional information please contact your nearest branch.
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
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Confirmed, Permanent Employees in Government, Semi- Government Or Private sector, |
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Employed in a recognized, established company. |
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Applicants should have a gross monthly income above Rs. 20,000/- |
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Other income also will be considered |
The loan will be offered ; | |
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To construct or purchase a house |
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To purchase a block of land to build a house |
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To add a new part to a house/extensions |
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To complete a partly built house |
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To redeem loans obtained from a recognized Financial Institutions for housing purposes |
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To purchase of machinery, equipment, and construction of factory buildings |
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To purchase machinery/equipment and vehicles used for agricultural purpose or for tourism industry |
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To purchese properties used for agricultural purposes |
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To finance the requirements of tourism agricultural and fishing industry |
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Minimum amount - Rs.100,000/-, |
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Maximum amount - Rs.4,000,000/- |
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Minimum - 1 year |
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Maximum - 7 years |
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Age Limit between 18-55 years | |
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The monthly loan installment should be deducted from the applicant’s salary or net salary to be remitted to SMIB saving accounts |
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One Personal Guarantor for high net worth clients | |
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Two personal Guarantors | |
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Spouse cannot be a guarantor |
Interest rate – Please refer our web site's "Rates" tab for interest rates.
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Documentation charges - 1% from the loan amount (Maximum Rs.20,000/-) | |
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Credit Information bureau fee | |
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Stamp duty |
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Confirmed, permanent employees in Government ,Semi- Government Or Private sector , | |
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Be employed in a recognized, established company. |
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Applicants should have a gross monthly income above Rs. 20,000 | |
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Other income also will be considered |
The loan will be offered to; | ||
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To Construct or Purchase a house | |
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To purchase a block of land to build a house | |
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To add a new part to a house /extensions | |
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To complete a partly built house | |
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To Repay a loan obtained from a recognized financial institution for housing purpose (Redemption) | |
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Agriculture ,Industrial ,Fishing and for Tourism purposes |
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Minimum amount - Rs.100,000 /- | |
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Maximum amount -Rs. 4,000,000/- |
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Minimum - 1 year | |
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Maximum - 7 years |
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Age Limit between 18-55 years of age | |
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The loan rental (EMI) should be deducted from the applicant/s salary | |
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Net Salary to remitted to the SMIB savings a/c |
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No guarantor with a Loan protection policy or | |
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One Personal Guarantor | |
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Spouse cannot be a guarantor |
Interest rate – Please refer our web site's "Rates" tab for interest rates.
Documentation charges - 1% from the loan amount (Max Rs.20,000/-)
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To construct or purchase a house | |
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To purchase a building site | |
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To complete construction of a new house or add new extensions | |
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To repair or renovate an existing house | |
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To redeem loans obtained from a recognized Financial Institutions for housing purposes | |
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To obtain electricity, water supply facilities etc. |
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To purchase machinery, equipments, etc and to construct factory buildings | |
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To purchase agricultural machinery/equipment | |
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To purchase agricultural property and vehicles used in agriculture industry | |
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For the financial requirements of the small & medium enterprises | |
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To purchase vehicles for the tourism industry | |
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To finance tourism, agricultural & fishing industries |
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Salaried employees | |
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Business/self Employed | |
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An income-tax payer | |
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Income earners from Agriculture (small & medium enterprises) | |
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Persons Employed overseas | |
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Migrant Employees registered with Sri Lanka Bureau of Foreign Employment(SLBFE) |
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Age | |
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Income | |
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Value of the property |
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The land on which the loan is utilized Or another Security to be mortgage. |
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National Identity Card / valid Passport and a photo copy |
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If you are a salaried employee, | |
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Salary confirmation and | |
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certified six monthly pay sheets from the employer | |
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If you are an income tax paying business person, | |
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3 years of Income Tax Reports | |
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Audited financial statements | |
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Bank statements for the last six months | |
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Self employment- | |
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Financial statement with income |
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Original Deed and a photo copy | |
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Approved Original Survey plan and a photo copy | |
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Extracts from relevant Land Registry to cover the title up to 20 years. | |
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Approved building plan ( if required ) | |
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Estimate for Construction | |
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Certificate issued by the Grama Sevaka | |
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Title Report (if required ) |
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Street line Certificate (only if applicable) | |
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Certificate of non vesting | |
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Certificate of ownership | |
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Notice of Rates Assessment (current year) | |
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Receipt for payment of Assessment Rates for the last quarter of current year. |
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Valuation fee | |
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Credit Information Bureau fee | |
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Insurance Policy fee (if applicable) | |
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Legal fees | |
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Initial Deposit – Rs 1000/= |

Security Documents as above
Personal Documents as above
Initial Deposit – Rs 10000/=
Bank charges
The Loan will be granted within 5 working days
Security Documents as above
Personal Documents as above
Initial Deposit – Rs 5000/=
Bank charges
The Loan will be granted within 10 working days
Security Documents as above
Personal Documents as above
Bank charges
The entire loan will be released at once .
Maximum Loan amount -Rs 5Mn