The ministry of Rehabilitation and prison reforms has decided to launch a concessionary loan scheme for houses damaged by the terrorist violence, ethnic clashes and by the military operations aimed at preventing such activities and for the families affected in various ways. This loan scheme is to launched jointly by the Bank of Ceylon and. Here, loans will be provided through a housing and self employment loan scheme.
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| BOC Chairman Dr.Gamini Wickremasinghe exchanging the MOU with Minister DEW Gunasekera . |
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| Picture shows BOC Chairman Dr.Gamini Wickremasinghe ,Minister DEW Gunasekera and Deputy Minister Chandrasiri Gajadeera in conversation after the signing of the agreement. |
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| Deputy General Manger BOC Sam Samarasinghe is seen inspecting the MOU in the presence of staff members at the signing of the agreement. |
The maximum amount of the loan under the housing loan scheme will be Rs. 250,000/-. The amount of the loan to be granted will be decided depending on the damage caused to the house.
Those who have obtained Rs. 75,000/- as housing aid and Rs.25, 000/- as aid for livelihood under the unified concessionary loan scheme could apply for improvement of their houses and the rate of interest to be charged per annum would be 4%.
The repayment period is restricted to a maximum of 10 years Personal Guarantee or guarantee of property will be taken as guarantee security. However, as far as guarantee securities are concerned the rules of the Bank of Ceylon will apply.
Although granting loans under this scheme for the houses situated in any area throughout the country and damaged after July 24th 1984 could also be considered, priority will be given to repairing of houses in Northern and Eastern Province, which have the damaged due to the war prevalent in 2009.
Loan application will be issued to the eligible applicants by the Rehabilitation Authority and completed applications should be forwarded to the Rehabilitation Authority with the recommendation of the Grama Niladhari/Divisional Secretary.
Under the self employment loan scheme, the maximum amount of loan to be granted is RS.250,000/- and the amount to be granted would be decided depending on the nature of self employment.
Accordingly, loans will be granted for agriculture, fisheries, animal husbandry, domestic self employments, small scale of business activities and other self employments.
The annual interest rate to be charged for this is 4% . A maximum of one year could be granted as a grace period and it will be decided depending on the nature of self employment. Only the interest will be charged during the grace period and the maximum repayment period is 10 years. |
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