The Government Information Center

Mihindu Sevana Housing Loan
Express Housing Loan
Ithurum Niwasa
Saranee Housing Loans
Alankara Housing Loans

Mihindu Sevana Housing Loan

LoanMihindu Sevana Housing Loan scheme

National Serving bank which is your Family Bank offers you housing loan facilities with many special features to enable you to make your dream home a reality.

Appearing hereunder are answers to some of the questions, which may have crossed your mind when contemplating for a housing loan.

• For what purposes are the loans granted?

"Loans are available for all Housing Needs."

To construct or purchase a house of your own.
To purchase a block of land to build a house.
To complete construction of a new house or for extensions/repairs to an existing house.
To repay a loan obtained from a recognized financial institution for housing purposes.

• Who can obtain a housing loan?

If you are a….

permanent employee
income-tax payer
employed abroad
self-employee – “Ithurum Niwasa Housing Loan Scheme”
What is the quantum of loan can be obtained?

“Limit is yours…….”

Depending on you’re …..

repayment capacity
age
value of the property
purpose

• What is the applicable interest rate?

“The lowest interest rate in the market”

The rate of interest applicable will vary according to the quantum of loan and the prevailing market rate of interest .We assure you that our interest rate is comparatively low, fixed and always reasonable.

Is the interest rate variable or fixed? How it is calculated?

“Fixed for the entire tenure”

Interest rate is fixed for the entire tenure of the loan. Installments are equal during the tenure of the loan and interest is calculated on the reducing balance method.

Mihindu Sevana – Special

What is this special loan scheme?

This scheme facilitates you to pay only the interest potion of the loan within first 5 years.
Also enables you to obtain a higher loan amount

Express Housing Loan

Express Housing Loan Scheme

Express Housing Loan scheme is to enable you to make your dream home come true really fast.

• How many days will it take to grant a loan through the Express service?

Option one - within 4 working days
Minimum charge for this service is Rs: 12,500/-
Up to Rs: 5 million-1% of the loan amount
Above Rs.5 million- additional 0.5 %

Option two - within 10 working days
Up to Rs. 5 million-0.5% of the loan amount
Over Rs. 5 million - 0.5% up to first 5 million and 0.25% in excess amount

Duly completed loan files will be considered for this service and the file should be handed over on or before 12.30p.m.

• From where this service can be obtained?

At any NSB Loan Centre or the Credit Division at Head Office

• What are the other important considerations?

You will be required to obtain a Mortgagee's title insurance in respect of all loans disbursed through the Express Service.

In case of loans for purchase of a property, transfer deeds will have to be executed by the Legal Officers of the Bank at a fee which will be subject to the loan amount.

Ithurum Niwasa

" Ithurum Niwasa Housing Loan Scheme"

You may need to purchase a land to build a house, buy a house, renovate your house or construct a house, you may think of a housing loan from a bank.

• Then comes to your mind…

“I am not a permanent employee”

“I do not have pay sheets”

“I do not have an income- tax file”

• How can I prove my repayment capacity?

You won't have to answer such questions when you apply for a housing loan from your family bank NSB, under “Ithurum Niwasa Housing Loan Savings Scheme”

• What is special about the “Ithurum Niwasa” Housing Loan Scheme?

It is special because you do not have to submit salary slips or income tax returns in support of your income. You should however, have an income from an acceptable source.

This loan scheme is for those who are self employed and non tax payers.

• How to qualify for a loan?

You can qualify for a Housing Loan by opening an 'Ithurum Niwasa' Housing Loan Savings Account at any NSB outlet island-wide and making a monthly deposit of a sum between Rs. 5000/- and Rs.25.000/- in multiples of Rs. 500/- for a continuous period of 12 months.

• What is the quantum of loan that can be obtained?

You can obtain a loan from Rs: 90,000/- to a maximum of Rs: 1,000,000/- depending on the monthly deposited amount to your “Ithurum Niwasa” account.

Saranee Housing Loans

“Saranee” Housing Loan Scheme

“Saranee” is designed for migrant worker community who are not in a position to produce documents in support of income. This is a special project launched by your family bank - NSB in collaboration of Sri Lanka Bureau of Foreign Employment.

• How the loan is granted?

You need to maintain a NSB NRFC account in order to be eligible for “Saranee” housing loan.

Even if you are not in Sri Lanka, you can nominate a person with a Power of Attorney, to receive the loan amount on behalf of you.
You can apply for a maximum of Rs. 300,000/- as a loan at a nominal interest rate of 5% and repayment period will be a maximum of 5 years.

Alankara Housing Loans

"To make the dream house of your own - "Alankara" housing loan is always with you."

This loan is to make your house more attractive and beautiful by landscaping, by giving a facelift or by purchasing of furniture or household equipment.

• Who can obtain "Alankara" loan?

It is a prerequisite to have a fixed / steady monthly income in order to obtain this loan.
The maximum repayment period is 30 years depending on the age of the applicant.
The property for which the loan is granted will be held by the Bank as security against the loan during the period of loan repayment, if you have already obtained a housing loan from NSB, you can apply for this loan easily as an additional loan using the same documents that you have submitted already.
General Conditions

For more details contact NSB Call Center - (0112379379) 24 Hour Service