COLOMBO: The government to provide low-interest loans for every family in view of the upcoming Christmas and New Year festivals.
A statement from the President’s Media Division (PMD) said the loans are expected to be provided with an interest rate of 0.625 percent under three categories.
Thereby, people with a monthly income of Rs 50,000 or beyond will be able to obtain a loan of Rs 50,000.
People who earn a monthly income between Rs 25,000 and Rs 50,000 will be provided a loan worth Rs 25,000.
Those with a monthly income below Rs 25,000 will accordingly be able to take a loan of Rs, 10,000.
Loans are provided by the Bank of Ceylon (BoC), People’s Bank, National Savings Banks (NSB), Regional Development Bank and Samurdhi Banks.
Employees of private and public sectors who wish to receive supplementary financial assistance are requested to inform their respective superiors.
Once the head of the institution submits the certified list of employees to the state bank closest to the workplace, relevant branch will credit the amount to the employees’ accounts without delay.
The PMD says the loan must be repaid within 10 months period and the amount will be deducted from the employee’s salary between January and October next year.
