‘BOC Abhimana’ - Government Pensioners Loan Scheme
Eligibility Criteria
- Government Pensioners below 75 years of age
- Pension should be remitted to BOC Account (Joint accounts will not be permitted.)
Purpose
- To start a business
- Educational Expenses of their children
- To meet Medical Expenses
- House Repairs
- Any other purpose legally acceptable (to uplift the lifestyle of the pensioners)
Loan Amount
No upper limit.
(Monthly installment of the loan should be restricted to 75% of gross pension and consider maximum 10% of other income, upto the 90% of gross pension)
Repayment
Maximum 15 years
Security
- Pension should be remitted to BOC Account.
- Decreasing Term Assurance policy (DTA Policy)
* Conditions Apply
(Bank of Ceylon holds the authority to change, add or revise any term and condition in this facility).
For more information, please contact the Manager at your nearest BOC Branch or BOC Call Centre: 1975
Eligible Borrowers
- Government Pensioners below 67 years of age
- Loan should be applied at the branch where the monthly pension is being remitted
- Not allowed to apply with Co-borrowers under this scheme
Purpose
- House Repairs
- To meet Medical Expenses
- Educational Expenses of their children
- Any other purpose legally acceptable (to uplift the lifestyle of the pensioners)
Loan Amount
- Maximum Rs: 500,000/- applicants below 60 years of age
- Maximum Rs: 300,000/- applicants above 60 years of age
Repayment
- maximum 5 years subject to full settlement of the loan 3 months prior to the applicant reaching 70 years
Security
- Letter of undertaking to remit monthly pension, from the Divisional Secretary where the monthly Pension is being paid
- Decreasing Term Assurance policy issued by the Sri Lanka Insurance
* 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
The Bank is offering you a loan scheme for assisting you to meet your various family and personal needs after retirement.
