Find the cheapest home loan in Sri Lanka

Duly filled loan application form, along with the following documents should be submitted to the loan granting institution.

Consent of the vendor indicating the selling price (only for purchase of land or residential property).

Income supporting documents:

• Salaried employees
• Last 3 months’ salary slips
• Confirmation letter covering designation, salary, allowances, the period of service.
• Undertaking from the employee, to remit the salary to the bank account of the loan granting bank.
• Salary slips for last six months

In case of other income if applicable:

• Bank statements for the last 6 months.
• Certificate of Business registration
• Income tax particulars for the past 3 years
• Financial statements for the past 3 years
• Salary slips for last six months

Legal documents:

• Copies of the title deeds
• Survey plan referred to in the Deed which is duly approved by the Local Authority. If this is more than 10 years old, a new survey plan, duly connected to the former plan, is required (if approval is not required, a letter issued by the Local Authority to this effect).
• Certified original extracts of the property for the last 30 years (to be obtained not less than one month from the date of application).

Local Authority certificates (issued within the last three months):

• Street Line / Building line
• Non-vesting
• Ownership certificate
• Tax receipts / Assessment Notices

In case of purchase of a residential property or construct a house:

• Approved Building plan (if approval is not required, a letter issued by the Local Authority to this effect)
• Certificate of conformity (COC) — only for purchase of a residential property
• Bill of quantities acceptable to the bank (applicable only for construction of a house)

Insurance:

• Decreasing Term Assurance Policy to cover for the full loan amount, and that should be assigned to the Bank
• Fire, SRCC and subversive insurance cover obtained and should be assigned to the Bank

• A member should obtain 2 housing loan application forms from the nearest Labour Office or download from the website and send them back, duly filled, to the same Office.
• The Labour Department will check the Forms and forward Form No.02, based on the information provided in the application, to the EPF Department.
• If the application is accepted, a certificate will be issued indicating the amount approved. This will be sent back to the relevant labour office.
• The loan can be obtained by producing the certificate to the preferred lending institute.
• For more info: epf.lk/housingloanguarantee.php

A housing loan guarantee can be obtained from EPF in order to take a housing loan from the following lending institutions:

• Bank of Ceylon
• People’s Bank
• SMIB
• HDFC
• Any branch of a Rural Co-operative Bank

• Active members who are currently contributing to the Fund are eligible for a guarantee for 75% of the balance lying to their credit in one or more of their EPF accounts.
• Inactive members who have not contributed to the Fund throughout the preceding year are eligible for a guarantee for 50% of the balance lying to their credit in one or more of their EPF accounts.
• In the case of married members and members having children who are contributors to the Fund, a guarantee can be obtained by combining the balance of both accounts. In such cases, the amount available depends on the applicant’s own credit status.

You should be a Sri Lankan employed abroad and in a position to service such loans in foreign currency.

Should have been continuously employed overseas for a minimum period of 2 years and have a contract for future employment for a minimum period of 1 year.

• US Dollars
• Sterling Pounds
• Euro
• Australian Dollars
• Canadian Dollars

• Medical Officers registered with Sri Lanka Medical Council
• Chartered Engineers, Chartered Architects
• Chartered Accountants (Members of CA Sri Lanka / ACCA / CIMA-UK)
• Attorneys at Law, Software Engineers
• Pilots licensed under Air Navigation Act
• Navigation Officers (Marine Officer / Deck Officer)
• Researcher or Senior Academic (recognized as an accredited professional) are eligible for a reduction of 0.5% from the published Floating & Fixed interest rates

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