REPAYMENT PERIOD

* Up to 3 years

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

INTEREST RATE

Please contact the nearest branch manager

Go to Branch Locator

SECURITY

* Applicant to provide two individuals acceptable to the bank as guarantors.

GENERAL GUIDELINES FOR BOTH SCHEMES

Eligibility

Should be a Sri Lankan Citizen

Age – less than 50 years

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

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)

Loans will be considered, only if the repayment capacity is adequate to meet the total cost involved in completing the entire course in full.

The applicant should have a Current/Savings account with us and those who do not have accounts could open Current/Savings accounts for this purpose.

Other Concerns

Applicant to submit an undertaking to remit the monthly salary directly to the Current/Savings account with the bank.

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

The applicant is to provide necessary documentary evidence to prove that he/she is eligible to follow the course.

Documents to be furnished by the applicant

Preliminary Application for the loan facility

Documentary Evidence on Repayment Capacity

Letter from the respective institutions confirming that the applicant is eligible to follow/continue the relevant Program including the course fee/amount already paid.

Guarantor's statement, together with documentary evidence of income / tax particulars.