Bank of Ceylon (BOC), on Friday, introduced its’ first housing loans to the Maldives.
The housing loan was introduced at the ongoing Financial Expo 2017 by central bank governor Azima Adam and BOC’s Country Manager B K Gurusinghe.
BOC’s first housing loan to the Maldives has an interest rate between 11-12 percent. The grace period for the loan is two years and if the loan is fully payed back within a period of 5 years, the interest rate is 11 percent. If the loan is payed back after a period longer than 5 years, the interest rate is fixed at 12 percent.
Speaking during the ceremony, deputy Country Manager Hassan Waheed said that the loan is available for purchase of flats as well as home construction.
With an increasing customer base, BOC is among the first banks in the Maldives.
BOC represents the highest worldwide network with over 865 overseas correspondent banks and exchange companies. To serve the migrant communities of the country, we have expanded our services through our representatives at the exchange houses in Qatar, theUnited Arab Emirates, Kuwait, Bahrain, Oman, the Kingdom of Saudi Arabia, Israel, Jordan, Italy, South Korea, France and Japan.
