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Amount
of the Loan |
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Against Guarantors. |
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The amount could go up to a maximum
of 75% of the total course fee or LKR
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300,000.00 whichever is lower. |
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Against Mortgage over Property |
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The Loan Amount could go up to LKR 1,000,000.00 or 60%
of the total course fee |
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whichever is lower. |
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Repayment Period |
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Against Guarantors – Up to 3 years. |
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Against Mortgage over Property – Up to 5 years. |
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i.e. in equal/equated instalments |
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a grace period may be considered
in addition to the above subject to a maximum of 12
months, if the loan is disbursed in stages and the initial
disbursement during the first 12 months is less than
LKR 75,000/- or 25% of the loan amount, whichever is
lower. |
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The student to prove the repayment
capacity of a loan that would be sufficient to complete
the course. When the applicant is not employed or the
income drawn is not sufficient to meet the installment,
parents/guardian of the applicant could be the co borrowers
of the loan. However, the applicant to justify the income
of the parents/ guardian to meet the installment. Loans
will not be considered, if the repayment capacity is
sufficient only to complete part of the Program |
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Interest Rate: |
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contact the nearest branch manager
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General Guidelines for both Schemes |
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Eligibility: |
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Should be a Sri Lankan Citizen. |
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Age – less than 50 years. |
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A letter from the respective institute
confirming that the applicant is eligible to follow
the particular course, with the total cost of the program
and the sum already paid. |
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The repayment capacity to repay
the loan instalment to be proved by the applicant/s.
(i.e. The applicant to provide documentary evidence
to justify that the income is sufficient to meet the
monthly installment). |
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particulars. |
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Loans will be considered, only if the repayment capacity
is adequate to meet the total cost involved in completing
the entire course in full. |
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The applicant should have a Current/Savings account
with us and those who do not have accounts can open
Current/Savings accounts for this purpose. |
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Other Concerns: |
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Obtain an undertaking from the applicant to remit the
monthly salary directly to the Current/Savings account
with the bank. |
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Loan proceeds will be released in stages and will be
directly remitted to the respective institutions. Applicant’s
contribution, if any to be utilized for the initial payment
of the respective courses. |
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The applicant is to provide necessary documentary evidence
to prove that he/she is eligible to follow the course. |
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Documents to be furnished by the applicant. |
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Preliminary Application for the loan facility |
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Documentary Evidence on Repayment Capacity |
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Letter from the respective institutions
confirming that the applicant is eligible to follow/continue
the relevant Program including the course fee/amount
already paid. |
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Guarantors statement, together with documentary evidence
of income / tax particulars. |
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Documents relating to the property offered as security(Deed/Plan
etc.) |
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Security: |
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Loans up to LKR 300,000.00 Applicant to provide two
individuals acceptable to |
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the bank as guarantors. |
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Loans in excess of LKR 300,000.00
Applicant to provide a property as security (Subject
to 65% of the Force Sale Value approved by the Valuation
Committee of the bank) or any other acceptable security
to the bank. |
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For more details please contact your nearest
Sampath Bank branch or call: |
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| Tel No : |
+94 (0)112 30 30 50 |
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