Highlights

• You can get the loan in selected foreign currencies
• You can pay back in a currency of your choice
• Flexible approach and fast approval
• Fixed or floating rate of interest
• Attractive and competitive interest rates
• Loans to build, purchase,  renovate or settle an existing Home Loan

Benefits

Special discounts up to 40% for building materials including Roofing sheets, Cement & allied products, Paints & allied products, Floor/ Wall tiles, allied electrical accessories, Wood care products, Bathroom fittings & accessories and PVC pipes & fittings, Hardware items for loans obtained for construction.

• Loan approval in 3 days without any additional charges
• Longer repayment period
• Flexible approach and fast approval
• Attractive and competitive low interest rates
• Convenience of our island wide branch network

Purposes

• Purchasing a house, apartment or land
• Building a house
• Completing a partially built house
• Renovate, extend, complete a house 
• Paying off an existing home related loan

Eligibility

You should be a Sri Lankan employed abroad who is in a position to service such loans in foreign currency. 

Should have been continuously employed overseas for a minimum period of 2 years and also should have a contract for future employment for a minimum period of 1 year.

Your salary should have been credited to your foreign currency account for last 6 months.

The currencies

• US Dollars
• Sterling Pounds
• Euro
• Australian Dollars
• Canadian Dollars

Loans amount

Depending on your need and income, you could borrow from USD 25,000/- to USD 100,000/- or equivalent in other currencies mentioned above. Loans exceeding USD 100,000/- could be considered on individual evaluation.

Repayment

Loans are granted for a maximum period of 5 years and the monthly installment would be in foreign currency on a reducing balance basis

Purchase condominium

We have tied up with some of Sri Lanka’s leading Condominium Property Developers to support the aspirations of Sri Lankans seeking to purchase apartments in several popular locations in Colombo, suburbs and in Kandy.

You can obtain up to 80% of the value of an apartment at competitive interest rates with flexible repayment options, and that the loans can be disbursed within a week from the date of application where there exists tripartite agreements between the Bank, the Borrower and the Developer.

You only need to provide the Sales and Purchase Agreement along with your personal and income related information to apply for the loan. Loans can be granted in Sri Lankan Rupees or in Foreign Currency (available only for Sri Lankans who are employed Abroad) depending on your choice and Foreign Currency Loans can be repaid in the same currency, through foreign currency accounts.

Documents required

Personal documents

1. Loan application.
2. Letter from the employer confirming Employment, Salary & Deductions with the undertaking to remit salary to the account at Commercial Bank. (If the applicant is employed abroad undertaking to remit the salary not required)
3. Bank statements of other Banks for the past 06 months, where salary is being credited at present.
   
4. Salary slips for past 03 months.
5. Income tax receipts if any.

Additional documents, if the applicant is employed abroad

1. Copy of the Passport with personal details & Visa. 
2. Current Work permit, if any.  
3. Letter of undertaking stating that funds from the salary will be remitted to PFC account to recover the monthly loan instalment.
4.  Copy of the job contract.
5. Records of embarkations & diss-embarkations for the last 12 months in the passport.
6. Special power of attorney. (If Applicable)

Property documents

1. Copy of the latest registered Title Transfer Deed / Title Certificate. (whichever applicable)
2. Copy of the approved Survey Plan depicting right of way or copy of the Cadastral Plan.
3. Copy of the approved Building Plan (to purchase /construct a house).
4. Certificate of Conformity (COC) (to purchase a complete  house).
5. BOQ (Estimate) if the purpose is for the construction.
6. Local Authority Documents obtained within last 06 months (Street Line Certificate, Building Line Certificate, Non Vesting Certificate report, Certificate of Ownership).
7. Copy of the receipt of the rates paid for the last quarter.
8. Names of the Grama Niladhari Wasam & the Divisional Secretariat applicable to the land (to be incorporated in the Mortgage Bond).
9.  Letter from the tenant to provide vacant possesion if the property is already occupied.
10.  If the property to be mortgaged is a Condominium property (Depending on the situation documents may vary) please refer legal department & address the same.

Terms & conditions apply

Product information and terms & conditions are subject to change from time to time. Therefore, it is advisable to contact the branch nearest to you for the latest information and prevailing terms & conditions.