Having your own home is one of the greatest achievements one would like to have in life. Seylan Home loans offer affordable and flexible housing loan schemes that can turn your dream to a reality.
A Seylan home loan can range from rupees five hundred thousand to one hundred million (Rs. 500,000 – Rs.100, 000,000) by submitting minimum documentation. Seylan home loans are offered at a competitive interest rate along with special Advisory Services.
Furthermore customers can also choose repayment plans stretching up to 25 years, depending on their repayment capacity and age.
We have products to suit every budget, taste and need. Whether you are self-employed or working in an organization, Seylan Bank offers a loan that is just perfect for you.
Benefits:
Meet your purpose:
Purchase or construct a house, Purchase a block of land, Renovate, Extend or Complete an existing house, Purchase a Condominium apartment, Redeem an existing housing loan, Home improvements (Interior decor, Pantry cupboards, Landscaping or any other requirements)
Attractive interest rates:
We offer attractive home loan rates that makes your housing loans affordable and easier to repay.
Balance transfer facility:
Not satisfied with your existing Home Loan Provider? You can transfer your home loan to us without any hassles.
Loan Amount:
From a minimum of Rs. 500,000/- based on the applicant's repayment capacity and value of property. Maximum loan amount Rs. 100 Million.
Purchase a Condominium Apartment:
List of Condominium Aptartment
Eligibility:
Find out how much you could borrow
a. Housing Loan for Salaried Employees (Falling under CBSL Monetary Low Act Order No 03 of 2020 Dated 4th Dec 2020)
| Loan Term |
Permanent Employees in Public & Private Sector in Sri Lanka with the Salary Assignment Rate p.a.% |
|---|---|
| 05 Years | 7.0000 |
b. For Non Salaried
| Loan Term |
Non- Salary assigned clients Rate p.a.(%) |
|---|---|
|
1 year
|
8.0000 |
|
2 years
|
8.5000 |
|
5 years
|
9.0000 |
|
10 years
|
10.7500 |
*Note - Rates subject to change based on market conditions
| Housing Loan Charges | ||
|---|---|---|
| Processing Fee | 0.5% of Loan Amount Minimum LKR 10,000/- to Maximum LKR 50,000/- | |
| Mortgage Bond | Loan Amount | |
| Up to LKR 5,000,000/- | 1% of Loan amount - Minimum LKR 5,000 | |
| LKR 5,000,000 up to LKR 25,000,000 LKR 5,000,000 LKR 5,000,001 up to LKR 25,000,000 | LKR 50,000 LKR 50,000 + 0.5% on the remaining balance | |
| Above LKR 25,0Mio LKR 25,000,000/- LKR 25,000,0001 and above | LKR 150,000/- LKR 150,000/-+ 0.25% | |
| VAT | Mortgage Charges x 8% | |
| Mortgage Bond Total = Mortgage Charges + VAT | ||
| Valuation Fee | Depends on Valuation + Travelling Charges e.g. If Loan Amount = LKR 2,000,000/-,Valuation Fee = LKR 2,000/- + travelling charges | |
| Title Search Charges | As applicable by the respective lawyers who are outsourced and employed by the bank | |
| Stamp Duty | Purchase or Construction of a House - Below LKR 3,000,000/- | No Charges |
| Purchase or Construction of a House - Above LKR 3,000,000/- | 0.1% of Loan Amount | |
| For Transfer deeds - Up to LKR 100,000/- | 3.0% of Transfer deed value | |
| For Transfer deeds - Above LKR 100,000/- | 4.0%of Transfer deed value | |
| Insurance Policies | Title Insurance Policy | On evaluation requirement. |
| Mortgage Policy | Mandatory | |
| Fire Insurance | As per valuation | |
yes
25 years (The loan should be totally repaid by the Age of 60)
