Housing Loans FAQs
Outright purchase of a residential house.
Outright purchase of a bare land.
Construct a House on own land.
Purchase a land and construct a house.
Purchase of a Condominium property.
Renovation of existing house.
Extension or completion of existing house.
LKR 30,000 per month (Basic + Fixed and Variable Allowances)
Maximum Tenor of 20 years subject to a maximum age limit of 55 years. (Can move up to 60 given that the customer can confirm employment till 60 years of age)
Yes, the salary assignment is necessary.
75% of the FSV (As per the valuation) for outright purchases or 75% of BOQ (Bill of Quantity) for constructions.
70% of FSV for completed units,
60% of purchase consideration for units under construction.
Primary mortgage over the property for which the loan is obtained.
Mortgage Protection Policy in the name of the Borrower.
The bank funds the needs of Dual Citizens, PR holders and Sri Lankans working abroad. However we are unable to fund the requirements of foreigners.
Fixed income earning customers
Variable rate - AWPLR + 3%
Variable rate - AWPLR + 4%
However the Business customer rate depends on the customer rating and is subject to change.