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Concessionary housing loans for migrant workers

Dec 13, 2010 4:58:29 AM - itnnews.lk

A concessionary housing loan will be provided for those who are employed overseas.

The Foreign Employment Bureau has taken measures to provide the loan that ranges from 300,000 rupees to 500,000 rupees at a concessionary interest rate. Although the loan is provided at the interest rate of 13 percent, 7 percent of the interest is being paid by the Foreign Employment Bureau while the debtor has to pay only six percent of the loan. The Bureau said that those who obtain loans exceeding this limit will have to pay the full interest. The persons who are registered under the Foreign Employment Bureau will be only eligible to obtain the loan.