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