Interest Subsidy on Loan Schemes

Ran Aswenna

Category 01

Beneficiaries – Small scale farmers and farmers’ organizations, Floriculture farmers, Entrepreneurs in ornamental fish related businesses.
Maximum Loan Amount (Rs.)- 5,000,000.
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 50%
On lending Rate – 6.93%
Repayment Period – 7 years (including 1 year grace period)

Category 02

Beneficiaries – Agro & fish processing and multiday boats with modern facilities
Maximum Loan Amount (Rs.)- 300,000,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 50%
Onlending Rate – 6.93%
Repayment Period – 7 years (including 1 year grace period)

Category 03

Beneficiaries – Companies engaged in commercial scale farming
Maximum Loan Amount (Rs.)- 750,000,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 50%
Onlending Rate – 6.93%
Repayment Period – 7 years (including 1 year grace period)

Govi Navoda

Beneficiaries – Small scale farmers and farmers’ organizations (for mechanizing the cultivation activities)
Maximum Loan Amount (Rs.)- 500,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 75%
Onlending Rate – 3.46%
Repayment Period – 7 years (including 1 year grace period)

Riya Shakthi

Beneficiaries – Owners of the school service vans
Maximum Loan Amount (Rs.)- 4,000,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 75%
Onlending Rate – 3.46%
Repayment Period – 5 years

‘City Ride’ Loan Scheme

Beneficiaries – Private bus owners who are willing to purchase a luxury bus/low flow board instead of the existing old bus and the reputed companies who are willing to provide comfortable transport service for their employees.
Maximum Loan Amount (Rs.)- 10,000,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 75%
Onlending Rate – 3.46%
Repayment Period – 5 years(including 1 year grace period)

‘Mini Taxi’ / electric threewheel Loan Scheme

Beneficiaries – Persons who are 35 years of age or above, who owns a three-wheel and it is used in hiring purpose are eligible for this loan to purchase a small motor vehicle / electric three-wheel to use as a taxi. The existing three-wheels should disposed.
Maximum Loan Amount (Rs.)- 2,000,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 75%
Onlending Rate – 3.46%
Repayment Period – 5 years

Rivi Bala Savi

Beneficiaries – Household who are expected to fixed Solar power panels
Maximum Loan Amount (Rs.)- 350,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 50%
Onlending Rate – 6.93%
Repayment Period – 5 years

Diri Saviya

Category 01

Beneficiaries – Poultry producers
Maximum Loan Amount (Rs.) – 50,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 100%
Onlending Rate – 0%
Repayment Period – 4 years (including 3 months grace period)

Category 02

Beneficiaries – Self-employees
Maximum Loan Amount (Rs.)- 1,000,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 50%
Onlending Rate – 6.93%
Repayment Period – 7 years (including 1 year grace period)

Category 03

Beneficiaries – Entrepreneurs engaged in animal
husbandry
Maximum Loan Amount (Rs.)- 5,000,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 50%
Onlending Rate – 6.93%
Repayment Period – 7 years (including 1 year grace period)

Jaya Isura

Category 01

Beneficiaries – Small enterprises with an annual turnover between Rs. 10 million to Rs. 250 million and with an employment cadre of 5 to 50 who are engaged in agriculture, fisheries, ornamental fisheries, livestock, floriculture, horticulture, light engineering, printing, tourism, handicrafts, wood based products, apparel, information technology, manufacturing industry and renewable energy sectors.
Maximum Loan Amount (Rs.)- 100,000,000 (Export). 50,000,000 (Non-Export)
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 50%
Onlending Rate – 6.93%
Repayment Period – 7 years (including 1 year grace period)

Category 02

Beneficiaries – Medium entrepreneurs with an annual turnover between Rs. 250 million to Rs. 750 million and with an employment cadre of 51 to 300 who are engaged in agriculture, fisheries, ornamental fisheries, livestock, floriculture, horticulture, light engineering, printing, tourism, handicrafts, wood based products,apparel, information technology, manufacturing industry and renewable energy sectors.
Maximum Loan Amount (Rs.)- 400,000,000 (Export) 200,000,000 (Non-Export)
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 25%
On lending Rate – 10.40%
Repayment Period – 7 years (including 1 year grace period)

Soduru Piyasa

Beneficiaries – Owners of the houses with the less than 1,500 sq.ft. who expect to expand or complete the house
Maximum Loan Amount (Rs.)- 200,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 50%
Onlending Rate – 6.93%
Maximum Repayment Period – 7 years

Madya Aruna

Category 01 (To purchase media equipment)

Beneficiaries – Registered journalists
Maximum Loan Amount (Rs.)- 300,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 100%
Onlending Rate – 0%
Repayment Period – 5 years (including 1 year grace period)

Category 02 (To upgrade media equipment)

Beneficiaries – Registered journalists
Maximum Loan Amount (Rs.)- 150,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 50%
Onlending Rate – 6.93%
Repayment Period – 5 years (including 1 year grace period)

‘My Future’ Loan Scheme

Beneficiaries – Student who passed Advance Level
Maximum Loan Amount (Rs.)- 1,100,000
Annual Effective Interest Rate – 13%
% of the Interest Subsidy – 100%
Onlending Rate – 0%
Repayment Period – 12 years

Erambuma’ Credit Scheme

Beneficiaries – Young Graduates and National Vocational Qualifications 5, 6 and 7 Level certificate holders
Maximum Loan Amount (Rs.)- 1,500,000
Annual Effective Interest Rate – 12%
% of the Interest Subsidy – 100%
Onlending Rate – 0%
Other facility – Fully Government guarantee
Repayment Period – 7 years (including 2 years grace period)

Green Loan

Category 01

Beneficiaries – Bio degradable bags and packing material producers, small scale hoteliers, and organic fertilizer producers.
* Three wheeler owners (only for fixing meter and maximum amount is Rs. 20,000)
Maximum Loan Amount (Rs.)- 1,000,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 50%
Onlending Rate – 6.93%
Repayment Period – 10 years (including 1 year grace period)

Category 02 (Homestay Programme)

Beneficiaries – Persons who are run or willing to run Homestays for tourists
Maximum Loan Amount (Rs.)- 5,000,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – more than 50%
Onlending Rate – 6%
Repayment Period – 10 years (including 1 year grace period)

‘Home Sweet Home’ Loan Scheme

Beneficiaries – Private and public sector waged employees to purchase/construct the first house through following activities; * To purchase a house from housing development projects implemented by the National Housing Development Authority (NHDA), the Urban Development Authority (UDA), or the private sector
* To purchase a house from housing projects constructed by the private sector
* To purchase a single house
* To build a first house for their own use
Maximum Loan Amount (Rs.)- 10,000,000
Annual Effective Interest Rate – 12% (for the first 5 years)
% of the Interest Subsidy – 40% (for the first 5 years)
Onlending Rate – 7% (Subsidy paid for first 5 years only)
Maximum Repayment Period – 25 years

‘Rakawarana’ Loan Scheme

Category 01

Beneficiaries – Individuals and the institutions who have the capacity to maintain a child day care centers. A staff with NVQ certificate holders should be employed and those centers should be operated in accordance with the national guidelines for child day care centers used by the Ministry of Women and Child Affairs and Dry Zone Development
Maximum Loan Amount (Rs.)- 3,500,000 for each center
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 75%
Onlending Rate – 3.46%
Repayment Period – 7 years (including 2 years grace period)

Category 02

Beneficiaries – Private sector investors who are willing to construct and improve Elderly care centers. A staff with NVQ certificate holders should employed and these centers should be operated in accordance with the SLS1506: 2015 standards.
Maximum Loan Amount (Rs.)- 10,000,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 75%
On lending Rate – 3.46%
Repayment Period – 7 years (including 2 years grace period)

‘Sigithi Pasala Loan Scheme

Beneficiaries – Investors who are willing to establish new preschools or to refurbish existing preschools. A qualified staff should be employed.
Maximum Loan Amount (Rs.)- 2,000,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 50%
Onlending Rate – 6.93%
Maximum Repayment Period – 7 years(including 1 year grace period)

‘Sihina Maliga’ Loan Scheme

Beneficiaries – Sri Lankan migrant workers registered under the Foreign Employment Bureau and currently working abroad. The applicants should have remitted a considerable amount of money earned in any foreign currency to any bank operating in Sri Lanka. Loan should be for following purposes:
* Build a new house
* Renovate the existing House
* Demolish the existing house and put up a new house
* Purchase a new house
* Purchase a land and put up a house or
* Purchase a house and renovate it
Maximum Loan Amount (Rs.)- 10,000,000
Annual Effective Interest Rate – 13.86%
% of the Interest Subsidy – 75%
Onlending Rate – 3.46%
Maximum Repayment Period – 15 years (including 2 years grace period)

Rooftop Solar Power Generation Line of Credit – RSPGLoC

Category 01

Beneficiaries – Households
Onlending Rate – 8%
Maximum Capacity – 50 Kilo watts
Repayment Period – 10 years

Category 02

Beneficiaries – Entrepreneurs
Onlending Rate – 8%
Maximum Capacity – 50 Kilo watts
Donor Agency – ADB (USD 50 million for 1st tranche and top-up to USD 200 million based on progress)
Repayment Period – 10 years (including 6 months grace period)

Small and Medium-sized Enterprises Line of Credit Project – SMELoC

Beneficiaries – SME Entrepreneurs
Maximum Loan Amount (Rs.)- 50,000,000
Onlending Rate – 11 – 14 %
Donor Agency – ADB (USD 175 million)
Repayment Period – 10 years (including 2 years grace period)

‘Pavithra Ganga’ Initiative

Beneficiaries – The companies that already discharge their waste into the Kelani River, lagoons
Maximum Loan Amount (Rs.)- 30,000,000
Onlending Rate – 6.5%
Donor Agency – JICA
Repayment Period – 10 years (including 2 years grace period)




Warning: count(): Parameter must be an array or an object that implements Countable in /homepages/28/d427152713/htdocs/taxsrilanka/wp-includes/class-wp-comment-query.php on line 405

Leave a Reply

Your email address will not be published. Required fields are marked *