Subscribe us & receive latest updates
By subscribing to SMIB, you can stay updated with the latest information about our services and become eligible for exciting benefits.
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 |
14.50 % |
15.25 % |
16.50 % |
|
Category02 |
Other than Salaried Income (Business and Foreign Employment etc.) |
15.50 % |
16.50 % |
N/A |
| 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 |
15.25 % |
17.00 % |
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 |
17.00 % |
|
Up to 07 years |
18.00 % |
|
|
Private Sector Employees |
Up to 05 years |
19.50 % |
|
Up to 07 years |
20.00 % |
|
| Business Loan (Up to 5 years) | ||
|
Code No 828 |
Against movable or immovable property |
16.00 % |
|
Code No 829 |
Against individual or director personal guarantor |
20.00 % |
| Business Development Loan to individual and corporate clients | ||
|
Loans granted for herbal plantation and related activities / organic fertilizer manufacturing and related activities (Code No 878) |
Against movable or immovable property |
16.00 % |
|
Loans granted for herbal plantation and related activities / organic fertilizer manufacturing and related activities (Code No 879) |
Against individual or director personal guarantee |
20.00 % |
|
Low Income Group |
Up to 05 years |
20.00 % |
|
Vehicle Loan |
Up to 05 years |
20.00 % |
|
Up to 07 years |
20.00 % |
|
|
Loan Scheme for Micro, Small and Medium enterprises |
- |
20.00 % |
|
Supplementary Festival / Salary Advance Loan Scheme |
- |
19.50 % |
*Professional Income - Income generated through an acceptable professional qualification or as directed by the bank.
Fixed
| Customer Category | Privilege | Gold | Silver | Repricing | |
|---|---|---|---|---|---|
| Group Code | Loan Category | A and above | BBB, BB | B & below | |
|
832/842 |
EPF Loans |
15.00% |
15.25% |
15.75% |
Annually – 01st Jan of each year(First repricing date is 01.01.2025) |
|
839/840 |
Estate Loans |
||||
|
833/843 |
Mortgage Loans |
12.50% |
13.50% |
14.50% |
|
|
834/844 |
Personal Loans |
16.25% |
16.50% |
16.75% |
|
|
835/847 |
Personal Mortgage |
14.00% |
14.50% |
15.50% |
|
|
838/845 |
Vehicle loans (Mortgage) |
18.00% |
18.50% |
19.00% |
|
Note -Fixed rates applicable up to 31.12.2024 and repricing to take effect from 01.01.2025 onwards
Variable
| Customer 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 | ||||
|
832/842 |
EPF |
03 Months AWPLR |
+ 2.5% |
+3.5% |
+4.5% |
Annually – 01st Jan of each year |
|
839/840 |
Estate Loans |
|||||
|
833/843 |
Mortgage Loans |
+ 2.5% |
+3.0% |
+4.0%
|
||
|
834/844 |
Personal Loans |
+ 3.5% |
+4.0% |
+5.0% |
||
|
835/847 |
Personal Mortgage |
+ 3.0% |
+3.50% |
+4.50% |
||
|
838/845 |
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
| Customer 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 | ||||
|
833/843 |
Mortgage Loans |
03 Months AWPLR |
+ 2.5% |
+3.0% |
+4.0% |
Annually – After 24 months. |
|
835/847 |
Personal Mortgage |
+ 3.00% |
+3.50% |
+4.50%
|
||
Floor Rate % p.a
| Privilege | Gold | Silver |
|---|---|---|
|
13.00% |
13.50% |
14.00% |
Floor Rate applicable for this loan is 14.00%p.a.
Fixed
| Customer Category | Privilege | Gold | Silver | Reprising | |
|---|---|---|---|---|---|
| Group Code | Loan Category | A and above | BBB, BB | B & Below | |
|
896/848 |
Business Loan - Mortgage |
13.50% |
14.50% |
15.50% |
Annually - 01st Jan of each year (First repricing date is 01.01.2025) |
|
897/849 |
Business Loan - Other than Mortgage |
17.75% |
18.75% |
19.50%
|
|
Note - Fixed rates applicable up to 31.12.2024 and repricing to take effect from 01.01.2025 onwards
Variable
| 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 | ||||
|
832/848* |
Business Loan - Mortgage |
Monthly |
+2.5% |
+3.0% |
+4.0% |
Quarterly |
|
896/848* |
Business Loan - Mortgage |
Monthly |
Annually |
|||
|
890/848 |
Business Loan - Mortgage |
03 M |
Quarterly |
|||
|
892/848 |
Business Loan - Mortgage |
03 M |
Semi Annual |
|||
|
894/848 |
Business Loan - Mortgage |
06 M |
Annually |
|||
|
837/849* |
Business Loan - Other than Mortgage |
Monthly |
+3.0% |
+4.0% |
+5.0% |
Quarterly |
|
897/849* |
Business Loan - Other than Mortgage |
Monthly |
Annually |
|||
|
891/849 |
Business Loan - Other than Mortgage |
03 M |
Quarterly |
|||
|
893/849 |
Business Loan - Other than Mortgage |
03 M |
Semi Annual |
|||
|
895/849 |
Business Loan - Other than Mortgage |
06 M |
Annually |
|||
Floor Rate % p.a
| Privilege | Gold | Silver |
|---|---|---|
|
13.00% |
13.50% |
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. |
|
Personal Mortgage |
Period restricted to type of income |
|
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