1. Home Loan Rates in Sri Lanka: 2025 Bank Comparison
Below is a detailed comparison of home loan rates in Sri Lanka for a Rs. 10,000,000 loan over 5 years with a 20% down payment (Rs. 2,500,000):
BankHome Loan ProductInterest RateMonthly Repayment
| Bank |
Home Loan Product |
Interest Rate |
Monthly Repayment |
| Bank of Ceylon (BOC) |
Sirimedura |
10% upwards |
Rs. 212,470 |
| Seylan Bank |
Siri Niwasa |
11% upwards |
Rs. 217,424 |
| NSB |
Housing Loan |
13% upwards |
Rs. 227,531 |
| Shanthi Home Loans |
Shanthi Home Loans |
13.5% upwards |
Rs. 230,098 |
| Kedella Loan |
Kedella Loan |
14.5% upwards |
Rs. 235,283 |
| Cargills Bank |
Cargills Home Loans |
14% upwards |
Rs. 232,683 |
| NDB Bank |
NDB Home Loan |
13% upwards |
Rs. 227,531 |
Key Takeaways:
- Lowest Rate: BOC’s Sirimedura (10% p.a.).
- Highest Rate: Kedella Loan (14.5% p.a.).
- Flexibility: NSB and NDB offer mid-range rates with longer tenures.
2. Home Loan Calculator: Estimate Your EMI
Use our home loan calculator to tailor estimates based on your budget:
Example Calculation:
- Property Value: Rs. 12,500,000
- Down Payment (20%): Rs. 2,500,000
- Loan Amount: Rs. 10,000,000
- Interest Rate: 14%
- Loan Period: 20 years
Results:
- Monthly EMI: Rs. 124,352
- Total Interest Payable: Rs. 19,844,480
- Total Repayment (Principal + Interest): Rs. 29,844,480
How to Use the Calculator:
- Adjust loan amount, tenure, and interest rate.
- Compare results across banks.
- Factor in processing fees (1–2% of loan amount) and prepayment penalties.
3. Top Banks for Home Loans in Sri Lanka
a. Bank of Ceylon (BOC) – Sirimedura
- Rate: 10% p.a. (lowest in 2024).
- Tenure: Up to 20 years.
- Eligibility: Salaried professionals, self-employed, or business owners.
b. Seylan Bank – Siri Niwasa
- Rate: 11% p.a.
- Perks: Pre-approval within 48 hours.
c. NSB Housing Loan
- Rate: 13% p.a.
- Special: Government-backed security for public-sector employees.
d. NDB Home Loan
- Rate: 13% p.a.
- Flexibility: Funds for resale properties and renovations.
4. Properties Within Your Budget
Based on a Rs. 10M loan, explore these listings:
Houses for Sale:
- Kadawatha: 2BR, 845 sq.ft. – Rs. 7M
- Batapola: 3BR, 3,000 sq.ft. – Rs. 8.5M
- Gampaha: 2BR, 1,300 sq.ft. – Rs. 7.5M
Lands for Sale:
- Wadduwa: 12.5 perches – Rs. 275,000/Perch
- Kandy: 20.5 perches – Rs. 1.2M
Apartments for Sale:
- Athurugiriya: 2BR, 765 sq.ft. – Rs. 2.45M
View All Properties
5. 5 Vital Tips Before Applying
- Check Credit Score: A score above 700 improves approval chances.
- Compare Fixed vs. Floating Rates: Fixed rates offer stability; floating rates may decrease over time.
- Verify Property Titles: Ensure no legal disputes via a notary.
- Negotiate Fees: Some banks waive processing charges for loyal customers.
- EPF Housing Loan Guarantee: Government employees can use EPF savings as collateral.
6. FAQs: Home Loans in Sri Lanka
Q1: What documents are required?
- NIC, salary slips (3 months), deed of property, and tax returns.
Q2: Can NRSLs (Non-Resident Sri Lankans) apply?
- Yes, but through foreign currency accounts (USD/GBP).
Q3: What’s the maximum repayment period?
- Up to 30 years for government banks; 20 years for private banks.
Q4: Are there loans for seniors?
- Yes! BOC and People’s Bank offer loans for applicants up to 70 years.
Q5: How does the EPF guarantee work?
- You can pledge up to 75% of your EPF balance to secure a loan.
7. Home Loan Scams: Red Flags
- No Physical Office: Avoid lenders without verified addresses.
- Upfront Fees: Legitimate banks deduct charges from the loan amount.
- Pressure to Skip Legal Checks: Always involve a lawyer.
Conclusion
Finding the best home loan rates in Sri Lanka requires comparing offers from BOC, Seylan, NSB, and others while using tools like EMI calculators. With properties in Colombo, Kandy, and Gampaha within reach, your dream home is closer than ever.
Ready to Apply? Visit landsale.lk to compare rates, use our calculator, or connect with trusted banks!
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