Home Loan

Bank of Ceylon Home Loan scheme had been designed to suit professionals, high income earners and expatriate workers to obtain quick Home Loan.

Purpose

• Purchase/construction of a house
• Purchase of a land and construction of a house -construction to be commenced within 6 months
• Improvements for a house

Eligibility requirement

• Over 18 years of age
• Should derive sufficient income to pay the monthly installment and interest
• Applicant’s contribution - 25% of the total cost of the house
• Maintain an account with the Bank of Ceylon/open a new account

Loan Details

• No upper limit
• Rate of interest 12.5% p.a. (current rate) - (Fixed for 3 years)
• Period of repayment -15 years (15 to 20 years for special cases ) upto the age of 60 years of the applicant
• Security - Mortgage over house property
• Granting period within 7 working days after accepting the completed documents

Security

• Mortgage over house property
• Insurance cover