Housing Loan for Government Employees

• For employees of Central or Provincial Govt.
• To Purchase land, construction, completion, repairs, additions  to house

• Equivalent to 7 years consolidated salary or 3 million whichever is less

Interest

• 4 % chargeable from applicant and 6% interest subsidy from Government

Repayment

• Up to maximum of 25 years or till the  age of 60 years, whichever is earlier

Security

• Mortgage over property and fire Insurance cover

Eligibility

• Confirmed  employee with 5 years service entitled to pension

Purchase of Motor Cycles for permanent employees of Govt.  Corpn.  and Statutory Bodies

Loan

• Up to a maximum of Rs.125,000.00

Interest

• 18.5 % per annum

Repayment

• Up to a maximum of 5 years

Security

• Mortgage over motor cycle, comprehensive insurance policy and two guarantors

Area

• Island-wide