Aug 17, Colombo: 'Sonduru Piyasa' Housing Loan Program implemented under the Enterprise Sri Lanka interest subsidy loan program has so far provided Rs. 5.47 billion, Secretary to the Finance Ministry and Treasury Dr. R.H.S. Samaratunga said.
The banking system has released this money to 27440 home loan recipients, he said.
Out of the 17 concessionary loan schemes of Enterprise Sri Lanka, the largest number of beneficiaries have obtained loans under the 'Sonduru Piyasa' loan scheme, the Secretary said.
Bank of Ceylon has provided loans to 17121 beneficiaries, National Savings Bank (NSB) to 7,443 beneficiaries and People's Bank to 2,876 home owners.
Owners of the houses with less than 1,000 sq.ft.es will be given a maximum of Rs. 200,000 to improve their existing condition. The loan repayment period is seven years. Interest rate of the loan is 6.54% for the beneficiary and the government pays 50% of the total interest to the creditor.