The State Mortgage and Investment Bank (SMIB) is one of the most established
financial institutions in Sri Lanka.
| Category | Type of Income | Up to 07 Years( p.a. ) | 7-10 years( p.a. ) | Above 10 years( p.a. ) |
|---|---|---|---|---|
|
Category 01 |
Salaried income or professional income |
14.00 % |
15.00 % |
16.50 % |
|
Category02 |
Other than Salaried Income (Business and Foreign Employment etc.) |
15.00 % |
16.00 % |
N/A |
| Category | Type of Income | Up to 07 Years (p.a.) | Up to 10 Years (p.a.) | Up to 15 Years (p.a.) |
|---|---|---|---|---|
|
Category 01 |
Salaried income or professional income |
15.00 % |
16.50 % |
17.50 % |
|
Category 02 |
Other than Salaried Income (Business and Foreign Employment etc.) |
16.00 % |
17.00 % |
N/A |
| Loan Category | Period / Amount | Revised Rate (p.a) | |
|---|---|---|---|
|
EPF Loans |
Up to 05 years |
16.00 % |
|
|
Up to 10 years |
16.75 % |
||
|
Up to 15 years |
18.00 % |
||
| Personal Loans | |||
|
Professionals*, Employees in Government/Semi Government Institutions |
Up to 05 years |
15.50 % |
|
|
Up to 07 years |
16.50 % |
||
|
Up to 10 years |
17.00 % |
||
|
Up to 12 years |
- |
||
|
Private Sector Employees |
Up to 05 years |
17.50 % |
|
|
Up to 07 years |
18.50 % |
||
| Business Loan (Up to 5 years) | |||
|
Against movable or immovable property |
Up to 05 Years |
Up to 07 Years |
|
|
Against individual or director personal guarantor |
Up to 05 Years |
Up to 07 Years |
|
| Business Development Loan to individual and corporate clients | |||
|
Loans granted for herbal plantation and related activities / organic fertilizer manufacturing and related activities |
Against movable or immovable property |
13.50 % |
|
|
Against individual or director personal guarantee |
15.50 % |
||
|
Low Income Group |
Other than mortgage |
18.00 % (Up to 05 years) |
|
|
Vehicle Loan |
Up to 05 years |
18.00 % |
|
|
Up to 07 years |
18.00 % |
||
|
Loan Scheme for Micro, Small and Medium enterprises |
Other than mortgage |
18.00 % (Up to 05 years) |
|
|
Supplementary Festival / Salary Advance Loan Scheme |
12 months |
17.00 % |
|
*Professional Income - Income generated through an acceptable professional qualification or as directed by the bank.
Option 01: One - year (12 Months) Fixed rates reprice annually thereafter.
| Customer Category | Privilege | Gold | Silver | Repricing |
|---|---|---|---|---|
| Loan Category | A and above | BBB, BB | B & below | |
|
EPF Loans |
15.00% |
15.25% |
15.75% |
Annually |
|
Estate Loans |
||||
|
Mortgage Loans |
12.00% |
13.00% |
14.00% |
|
|
Personal Loans |
15.00% |
15.50% |
16.50% |
|
|
Personal Mortgage |
13.50% |
14.00% |
15.25% |
|
|
Vehicle loans (Mortgage) |
17.50% |
18.00% |
18.50% |
Note -Fixed rates applicable up to 31.12.2024 and repricing to take effect from 01.01.2025 onwards
Table No 01 (Full Floating)
| Customer Category | Privilege | Gold | Silver | Repricing | |
|---|---|---|---|---|---|
| Loan Category | Base Rate(AWPLR) | Minimum Margin Based on Risk Rating | |||
| A and above | BBB, BB | B & Below | |||
|
EPF |
03 Months AWPLR |
+ 2.5% |
+3.5% |
+4.5% |
Annually |
|
Estate Loans |
|||||
|
Mortgage Loans |
+ 2.5% |
+3.0% |
+4.0%
|
||
|
Personal Loans |
+ 3.5% |
+4.0% |
+5.0% |
||
|
Personal Mortgage |
+ 3.0% |
+3.50% |
+4.50% |
||
|
Vehicle loans (Mortgage) |
+3.5% |
+4.0% |
+5.0% |
||
Floor Rate % p.a
| Privilege | Gold | Silver |
|---|---|---|
|
13.00% |
13.50% |
14.00% |
Floor Rate applicable for Retail category is 14.00%p.a
One - year (12 months) Fixed rates reprice annually thereafter.
| Customer Category | Privilege | Gold | Silver | Reprising |
|---|---|---|---|---|
| Loan Category | A and above | BBB, BB | B & Below | |
|
Business Loan - Mortgage |
13.00% |
14.00% |
15.00% |
Annually - 01st Jan of each year (First repricing date is 01.01.2025) |
|
Business Loan - Other than Mortgage |
15.00% |
16.00% |
17.00%
|
Note - Fixed rates applicable up to 31.12.2024 and repricing to take effect from 01.01.2025 onwards
Table No 02 (Full Floating)
| Business Category | Privilege | Gold | Silver | Repricing | |
|---|---|---|---|---|---|
| Group Code Loan Category |
Base Rate(AWPLR) | Minimum Margin based on Risk Rating | |||
| A and above | BBB,BB | B & Below | |||
|
Business Loan - Mortgage |
Monthly |
+2.5% |
+3.0% |
+4.0% |
Quarterly / Semi Annual / Annually |
|
03 M |
|||||
|
06 M |
|||||
|
Business Loan - Other than Mortgage |
Monthly |
+3.0% |
+4.0% |
+5.0% |
Quarterly / Semi Annual / Annually |
|
03 M |
|||||
|
06 M |
|||||
Floor Rate % p.a
| Privilege | Gold | Silver |
|---|---|---|
|
12.50% |
13.00% |
14.00% |
Floor Rate applicable for Business category is 14.00% p.a.
* Usage of Monthly AWPLR as base rate is subject to the prior approval from DGM/C or higher authority.
| Loan category | Condition Applied |
|---|---|
|
EPF & Estate Loans |
Maximum up to 15 years. |
|
Mortgage Loans |
Period restricted based on type of income |
|
Personal Loans |
Maximum up to 07 years. Gross income multiplier will apply subject to the directions issued time to time by the Bank |
|
Personal Mortgage |
Period restricted to type of income |
|
M/SME/Business Loans |
Loan/SLT tenor, as approved in the credit paper (max 10 years) |
|
Vehicle Loans(Mortgage) |
Maximum up to 07 years |
By subscribing to SMIB, you can stay updated with the latest information about our services and become eligible for exciting benefits.
Contact SMIB today to get in touch with one of our experienced and friendly agents who will support you with your financial requirements.
LRA Ratings BBB | State Mortgage & Investment Bank is a Licensed Specialized Bank Supervised by the Central Bank of Sri Lanka.
Follow us on:
© 2024 SMIB. All rights reserved.
Designed & Developed by 
Head Office
No. 269, Galle Road, Colombo 03, Sri Lanka.
Banking Hours
Monday – Friday
8:30am - 3:30pm
Follow us on:
© 2024 SMIB. All rights reserved.
Designed & Developed by