A Simple home loan calculator to help you find out your estimated home loan repayments based on the repayment method you select and the interest rate. This calculator will help you understand what is your repayment capacity and the value of loan you can afford to take based on the your present/future income.
Who can apply for a home loan?
- Salaried employees
- Sri Lankans employed abroad
- Joint borrowers –spouse, parents with son/daughter 18 years old
Home loans are available for the following purposes
- To buy, build or renovate a house of your own.
- To buy your own block of land.
- To buy a condominium property.
- To extend or complete an existing house.
- To engage in home improvements. (Adding Solar Panels, etc)
Do we need a security for the loan?
- Mortgage over house and property
- Mortgage over the land
Documents required for the housing loan
- Details of income
- Title deeds and approved survey plan
- Non vesting/ownership/street line and building lines certificate from local authority
- Tax receipts for the last quarter
- Bill of quantities
- Approved condominium plan, tripartite agreement with power of attorney favoring the bank
To be eligible for a Home Loan an individual should earn a regular monthly income of LKR 30,000 or above and the income should be sufficient to meet the monthly loan commitment as well as other commitments and living expenses.
The maximum loan amount is determined considering the repayment capacity and the Forced Sale Value (FSV) of the property as stipulated by the Bank.
In case of construction of a House, the bank allows a maximum borrowing up-to 75% of the value of the Bill of Quantity (BOQ)
Home loans could be obtained for a maximum period of 20 years depending on your age of retirement (Maximum age of 60 years). We also provide two modes of payment:
Equated monthly installments : where your capital plus interest is a fixed sum
Equal monthly installments : where you pay back your capital in equal installments plus interest on reducing balance
Home Loans to purchase condominium
We have tied up with some of Sri Lanka’s leading Condominium Property Developers to support the aspirations of Sri Lankans seeking to purchase apartments several popular locations in Colombo, suburbs, Galle and in Kandy.
You can obtain up to 75% of the value of an apartment at competitive interest rates with flexible repayment options, and that the loans can be disbursed within a week from the date of application where there exists tripartite agreements between the Bank, the Borrower and the Developer.
*Terms & Conditions apply
Product information and terms & conditions are subject to change from time to time. Therefore, it is advisable to contact us for the latest information and prevailing terms & conditions.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.