Special Loan Schemes
A customised loan scheme that provides financial support for employees of the Colombo Municipal Council.
Colombo Municipal Council
A customised loan scheme that provides financial support for employees of the Colombo Municipal Council.
Features and Benefits
- Attractive interest rates
- One personal guarantor required
- Ability to apply jointly with spouse (only if spouse is a confirmed employee of a government institution)
Loan amount
Minimum loan amount is – Rs.100,000/-
Maximum Loan amount
- For Mortgage Loan – Rs.50 Mn
- For Personal Loan- Rs.4 Mn
- For Vehicle Loan – Rs.15 Mn
Repayment Period
- Minimum 01 year
- Maximum period
– For Mortgage Loan – 25 Years
– For Personal Loan- 07 Years
– For Vehicle Loan – 10 Years
Eligibility/Who can Apply
- Applicant should be a confirmed employee at Colombo Municipal Council
Purpose of Loan
The loan will be offered
- To construct or purchase a house.
- To purchase block of lands to build a house
- To add new part to a house (extension)
- To complete construction of partly build house.
- To effect renovation / repair to existing house.
- To purchase machinery, equipment and construction of factory building.
- To purchase machinery, equipment and vehicle used for agricultural purpose or tourism industry.
- To purchase properties for agricultural purposes.
- To finance the requirements of tourism, agricultural and fishing industries.
- To redeem loans obtained from a recognized financial institute for above purpose.
Documents Required
- Duly completed application form
- Copy of NIC, Driving License or valid Passport
- Letter from the employer confirming the employee details and salary.
- Any other documents required if any upon bank request
Conditions apply
For more information visit our nearest SMIB Branch or Contact Us via our Call Centre on 1922