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| Sunday, 3 February 2002 |
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| News Business Features Editorial
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Speedy housing loans from NSB National Savings Bank (NSB) is offering its customers the opportunity of obtaining a loan within 24 business hours under the 'Express Service Housing Loan scheme'. Persons who draw a monthly salary, income taxpayers, self employed persons or persons employed abroad are eligible to obtain housing loans and it is not necessary to maintain an account with the bank. Initially the scheme will be restricted to customers who intend to mortgage properties within the Land Registry divisions of Colombo and Mount Lavinia. The service will be extended to other divisions as well in the near future. The rate of interest depends on the quantum of the loan and varies between 15-18 per cent while the amount depends on the applicant's age, repayment capacity, value of the property to be mortgaged and the purpose. It will give loans to purchase a house or land, for complete construction or to repay a loan obtained from a financial institution. Chairman of the Bank Cyril Herath said: "We hope that the scheme will offer relief to customers who want a housing loan in double quick time." He assured that a loan could be obtained within four working days. "However, there is a small additional payment involved," he said. |
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