Home Loans
Housing mortgage loan from SMIB is designed to help you make your dream home a reality.
Pahan Piyasa
Housing mortgage loan from SMIB is designed to help you make your dream home a reality.
Features and Benefits
- Affordable interest rates
- Flexible repayment periods up to 25 years
- Ability to apply jointly with spouse
- Speedy personalized service with in-house valuation and legal assistance
- Fast and hassle-free processing
- Consultation for BOQ preparation and construction
Eligibility Criteria
- Resident Sri Lankans of age between 18 -70 years
- Salaried employees, self-employed or business owners
- Sri Lankan citizens employed overseas with verifiable income statements
- Rental Income earners
- Others who can provide details of a steady income from authorized personnel
- Flexibility to apply either individually or jointly with spouse, parents or with children
Purposes for which a Housing Mortgage Loan can be obtained
- Construct or Purchase a house
- Purchase a block of land to build a house
- Enhance an existing house/extension
- Complete a partly built house/to construct a section of house
- Repay a loan obtained from a recognized financial institution for a housing purpose (Redemption)
- Purchase of machinery, equipment/to construct a factory building
- Purchase agriculture machinery/equipment, agricultural vehicles or properties
- Meet financing needs of small and medium enterprises (SMEs)
- Purchase a vehicle for transportation and tourism industries
- Finance requirements related to tourism, agricultural or fishing industry
Documents required
Personal documents
| Salaried | Self-employed/Business owners |
| Duly completed Loan application | Duly completed Loan application |
| Letter from the employer confirming Employment and Salary | Proven track records of income (Business registration, bank statements,company accounts) |
| Bank statements for the past 06 months, where salary is being credited at present. | Any other documentary evidence to prove additional income |
| Salary slips for past 03 months |
Property documents
- Latest registered title Transfer Deed/Title Certificate (whichever applicable).
- Copy of the approved Survey Plan
- Copy of the approved Building Plan (to purchase /construct a house)
- BOQ (building estimate) in case of construction
- Local authority documents obtained within the latest 6 months (Street Line Certificate, Non-Vesting Certificate)
- Copy of the receipts of the taxes paid for the most recent quarter
- Confirmation letter from the Grama Niladhari division applicable to the land/property
- Letter/affidavit from the tenant (If applicable)
- If the property to be mortgaged is a Condominium Property the above documents may vary (based on the conditions)
Conditions apply
For more information visit our nearest SMIB Branch or Contact Us via our Call Centre on 1922