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by Lalin Fernandopulle

In conformity with the 'Jana Sevana Program' of the Mahinda Chintana to provide shelter to every family, the National Savings Bank (NSB) launched the 'Mihindu Sevana' housing loan scheme.

"Every family in Sri Lanka should own a house" is envisaged in the election manifesto of President Mahinda Rajapaksa. To toe the line with the mission of the President, the NSB introduced the housing loan scheme with a host of benefits to the low income families, Credit Manager S. Weththasinghe said.

Loans are granted under the 'Mihindu Sevana' housing loan scheme to construct, purchase, renovate or repay loans obtained from financial institutions.

He said during the first five years the borrower has only to pay the interest of the loan. Thereafter he could obtain a comparatively a larger loan depending on the repayment capacity calculated on the reduced loan instalment.

Those who are permanently employed locally or abroad and paying income tax are eligible to apply for the housing loan. For those who are self-employed or temporarily employed and cannot produce evidence of income could get a loan joining the 'Savers Housing Loan Scheme', Weththasinghe said.

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