Features
To construct a house | To purchase a house | To purchase a building site | Extension of a house | To repair or renovate a house
water supply facilities
To redeem a loan obtained for any of the above purpose from financial institutions /Individual person.
To obtain Electricity, water supply facilities etc.
The maximum repayment period is 15 years or reaching the age of 60 years whichever is lower.
Up to 75% of the EPF balance as certified by the Central Bank of Sri Lanka and according to your repayment capacity.
Eligibility
Should be a member of Employees Provident Fund at Central bank of Sri Lanka & could be applied as Individuals.
Should be a member of Employees Provident Fund at Central bank of Sri Lanka & could be applied as Joint applicants - Husband & wife.
Assignment of balance lying in the EPF at the Central Bank of Sri Lanka (Mortgage of property not required)
Documents Needed
If the loan is for construction or renovation/extension/repair - Copy of deed | Copy of survey plan | Copy of building plan | BOQ/Estimate |
If the loan is for Purchase of house/land - Copy of vendors deed of transfer | Copy of survey plan | Letter from vendor giving consent to sell the house/land including survey plan number, lot number, extent , purchase price, advances given etc.
If the loan is for a loan redemption - Letter from creditor stating Details of amount obtained, Purpose of loan, Rate of interest, Repayment period, Monthly installment & Present balance principle outstanding (Capital & Interest should be stated separately) | Copy of Mortgage bond
Personal Information - Copy of NIC | Copy of marriage certificate (If joint applicant is spouse) | Copy of birth certificate (If joint applicant is a child)
Evidence of income If you are employed,- Certified salary slips for past 6 months | Service letter/Salary confirmation letter
Evidence of income If you are self- employed - Copy of Business Registration certificate | Bank statements for past 6 months | Income declaration (The decision to lend will depend on an income inspection done by SMIB)