Regulatory Alerts2021-02-17 | Frequently Asked Questions No. 1 of 2021Added · Updated
Amendments to FAQs No. 05 of 2020 on Maximum Interest Rates for Mortgage-backed Housing Loans
The Central Bank of Sri Lanka issued updated FAQs specifying eligibility and terms for mortgage-backed housing loans under the Monetary Law Act Order No. 3 of 2020. The scheme targets salaried public and private sector employees, requiring a primary mortgage on the same property for purchasing, constructing, or renovating residential homes. Borrowers benefit from a fixed 7 percent annual interest rate for the first five years, after which rates adjust semi-annually based on the Average Weighted Prime Lending Rate.
More like this from CBSL
CBSL published 1 document in the last 30 days. We email you each new one the day it's published.
Topics
Share