BOC Housing Loan Scheme

Purpose 

  • Purchase a land to construct a house later.
  • Purchase a land and to construct a house.
  • Construct a house in an owned land of the borrower/s.
  • Purchase a house/ partly constructed house/ condominium unit.
  • Complete construction/ renovation/ extension/ repair of an existing house/ condominium unit.
  • Landscaping/ interior decoration of the house/ condominium unit.
  • Construction of houses/ apartments for sale - please contact the relevant branch for more information and this facility is provided only for the commercial purpose house builders.

 

Quantum of Loan

Maximum of Rs. 50.00 Million


Repayment Period 

25 years

 

 Area of Operation

All Island 

 

 Eligibility

  • Should be a Sri Lankan Citizen/s above the age of 18 years.
  • The borrower should be a resident of Sri Lanka.
  • Should not be a defaulter of BOC or any other Financial Institution.
  • Professionals with fixed/non-fixed income, permanent employees of government, statutory bodies, private sector, self employed, farmers, cultivators.
  • In case of a joint housing loan, the co-borrowers should be close relatives or directly interested parties for purchasing/developing of the property.

 

 

Rate of Advance

Purpose

Rates of Advance

Purchase a land to construct a house later

Maximum of 75% of reviewed market value or purchase price of the property, whichever is lesser.

Purchase a land and to construct a house

  • Land purchasing

Maximum of 75% of reviewed market value or purchase price of the property, whichever is lesser.

  • House construction

Maximum of 90% of the BOQ

Construct a house in an owned land of the borrower/co-borrower

Maximum of 90% of the BOQ

Purchase a house/ partly constructed house/ condominium unit

Maximum of 75% of reviewed market value or purchase price of the property, whichever is lesser.

Complete construction/ renovation, extension / repair of an existing house/ condominium unit

90% of the BOQ value

Landscape/ interior decoration of exiting house/ condominium unit

If reviewed forced sale value of the house/ apartment is above the loan amount - 100% of cost

If not - 75% of cost or reviewed forced sale value of the house property, whichever is less.

Construction of houses/ Apartments for sale

Maximum 70% of the BOQ value

 

 

Security/ Collateral

  • Mortgage over the subject property / property owned by the applicant/s.

 

* Conditions Apply

(Bank of Ceylon holds the authority to change, add or revise any condition, term or statement in this facility)

For more information, please contact the Manager at your nearest BOC Branch or call centre: 1975

Manager,
Development Banking Division, 
20th Floor, Head Office,
Bank of Ceylon,
No: 01, BOC Square, Bank of Ceylon Mawatha,
Colombo: 01.

Tel: 011 220 4525 / 011 220 4526 / 011220 4527,
Fax: 011 2448606

 

 

 

 

"Havelock City" Housing Project

  • Bank of Ceylon offers this housing loan for prospective buyers to purchase a condominium apartment of Havelock City Housing Project
 

Eligible Borrowers

  • BOC Customers, Sri Lankan citizens of age between 18-60 with an adequate repayment capacity with clear DRU and CRIB Records
 

Quantum of the Loan Facility

  • Maximum Rs. 40 Mn or 75% of purchase price
 
* Conditions Apply
(Bank of ceylon holds the authority to change, add or revise any condition, term or statement in this facility)
 
For more information, please contact the Manager at your nearest BOC Branch or
call centre: 011 220 4444

For University Staff

  • Bank of Ceylon offers a special housing loan scheme to officers with a minimum of 5 years service and confirmed in Service who are serving in the universities which are registered under the Universities Act No: 16 of 1978.
  • A loan under this scheme shall be granted only once during the period of service.
 

Quantum of the Loan Facility:

  • Academic Staff: 2.0 Mn
  • Non-Academic Staff: 1.0 Mn
 
* Conditions Apply
(Bank of Ceylon holds the authority to change, add or revise any condition, term or statement in this facility)
 
For more information, please contact the Manager at your nearest BOC Branch or
call centre: 011 220 4444
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