S M I B

The State Mortgage and Investment Bank (SMIB) is one of the most established
financial institutions in Sri Lanka.

 Monday – Friday : 8:30am – 3:30pm 

 1922 

 info@smib.lk 

 සිං  |  தமி

Mortgage Loans

Category Type of Income Up to 07 Years( p.a. ) 7-10 years( p.a. ) Above 10 years( p.a. )

Category 01

Salaried income or professional income

14.50 %

15.25 %

16.50 %

Category02

Other than Salaried Income (Business and Foreign Employment etc.)

15.50 %

16.50 %

N/A

Personal Loans – Property Mortgage

Category Type of Income Up to 07 Years (p.a.) 7-10 years (p.a.) Above 10 years(p.a.)

Category 01

Salaried income or professional income

15.25 %

17.00 %

17.50 %

Category 02

Other than Salaried Income (Business and Foreign Employment etc.)

16.00 %

17.00 %

N/A

EPF, Personal, Vehicle and Business Loans

Loan Category Period / Amount Revised Rate (p.a)

EPF Loans

Up to 05 years

16.00 %

Up to 10 years

16.75 %

Up to 15 years

18.00 %

Personal Loans

Professionals*, Employees in Government/Semi Government Institutions

Up to 05 years

17.00 %

Up to 07 years

18.00 %

Private Sector Employees

Up to 05 years

19.50 %

Up to 07 years

20.00 %

Business Loan (Up to 5 years)

Code No 828

Against movable or immovable property

16.00 %

Code No 829

Against individual or director personal guarantor

20.00 %

Business Development Loan to individual and corporate clients

Loans granted for herbal plantation and related activities / organic fertilizer manufacturing and related activities (Code No 878)

Against movable or immovable property

16.00 %

Loans granted for herbal plantation and related activities / organic fertilizer manufacturing and related activities (Code No 879)

Against individual or director personal guarantee

20.00 %

Low Income Group

Up to 05 years

20.00 %

Vehicle Loan

Up to 05 years

20.00 %

Up to 07 years

20.00 %

Loan Scheme for Micro, Small and Medium enterprises

-

20.00 %

Supplementary Festival / Salary Advance Loan Scheme

-

19.50 %

*Professional Income - Income generated through an acceptable professional qualification or as directed by the bank.

Variable Interest Rates (Floating Interest Rate)

Retail Category – Hybrid Rates

Fixed

Customer Category Privilege Gold Silver Repricing
Group Code Loan Category A and above BBB, BB B & below

832/842

EPF Loans

15.00%

15.25%

15.75%

Annually – 01st Jan of each year(First repricing date is 01.01.2025)

839/840

Estate Loans

833/843

Mortgage Loans

12.50%

13.50%

14.50%

834/844

Personal Loans

16.25%

16.50%

16.75%

835/847

Personal Mortgage

14.00%

14.50%

15.50%

838/845

Vehicle loans (Mortgage)

18.00%

18.50%

19.00%

Note -Fixed rates applicable up to 31.12.2024 and repricing to take effect from 01.01.2025 onwards

Variable

Customer Category Privilege Gold Silver Repricing
Group Code Loan Category Base Rate(AWPLR) Minimum Margin Based on Risk Rating
A and above BBB, BB B & Below

832/842

EPF

03 Months AWPLR

+ 2.5%

+3.5%

+4.5%

Annually – 01st Jan of each year

839/840

Estate Loans

833/843

Mortgage Loans

+ 2.5%

+3.0%

+4.0%

834/844

Personal Loans

+ 3.5%

+4.0%

+5.0%

835/847

Personal Mortgage

+ 3.0%

+3.50%

+4.50%

838/845

Vehicle loans (Mortgage)

+3.5%

+4.0%

+5.0%

Floor Rate % p.a

Privilege Gold Silver

13.00%

13.50%

14.00%

Floor Rate applicable for Retail category is 14.00%p.a

  • Fixed rate of 12.50% p.a.
  • applicable for the first 02 years from date of the first disbursement of the loan.
  • After completion of the first two years, loans should be repriced as follows,
Customer Category Privilege Gold Silver Repricing
Group Code Loan Category Base Rate(AWPLR) Minimum Margin based on Risk Rating
A and above BBB, BB B & Below

833/843

Mortgage Loans

03 Months AWPLR

+ 2.5%

+3.0%

+4.0%

Annually – After 24 months.

835/847

Personal Mortgage

+ 3.00%

+3.50%

+4.50%

Floor Rate % p.a

Privilege Gold Silver

13.00%

13.50%

14.00%

Floor Rate applicable for this loan is 14.00%p.a.

Business Category – Hybrid Rates

Fixed

Customer Category Privilege Gold Silver Reprising
Group Code Loan Category A and above BBB, BB B & Below

896/848

Business Loan - Mortgage

13.50%

14.50%

15.50%

Annually - 01st Jan of each year (First repricing date is 01.01.2025)

897/849

Business Loan - Other than Mortgage

17.75%

18.75%

19.50%

Note - Fixed rates applicable up to 31.12.2024 and repricing to take effect from 01.01.2025 onwards

Variable

Business Category Privilege Gold Silver Repricing
Group Code Loan Category Base Rate(AWPLR) Minimum Margin based on Risk Rating
A and above BBB,BB B & Below

832/848*

Business Loan - Mortgage

Monthly

+2.5%

+3.0%

+4.0%

Quarterly

896/848*

Business Loan - Mortgage

Monthly

Annually

890/848

Business Loan - Mortgage

03 M

Quarterly

892/848

Business Loan - Mortgage

03 M

Semi Annual

894/848

Business Loan - Mortgage

06 M

Annually

837/849*

Business Loan - Other than Mortgage

Monthly

+3.0%

+4.0%

+5.0%

Quarterly

897/849*

Business Loan - Other than Mortgage

Monthly

Annually

891/849

Business Loan - Other than Mortgage

03 M

Quarterly

893/849

Business Loan - Other than Mortgage

03 M

Semi Annual

895/849

Business Loan - Other than Mortgage

06 M

Annually

Floor Rate % p.a

Privilege Gold Silver

13.00%

13.50%

14.00%

Floor Rate applicable for Business category is 14.00% p.a.

* Usage of Monthly AWPLR as base rate is subject to the prior approval from DGM/C or higher authority.

Maximum Loan Period for Loans

Loan category Condition Applied

EPF & Estate Loans

Maximum up to 15 years.

Mortgage Loans

Period restricted based on type of income

Personal Loans

Maximum up to 07 years. Gross income multiplier will apply.

Personal Mortgage

Period restricted to type of income

Vehicle Loans(Mortgage)

Maximum up to 07 years


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