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