Aug 06, 2017

Samurdhi loan interest upped to 12 pc Featured

The annual interest on self-employment loans issued by Samurdhi banks has been raised by two per cent from this month, says Samurdhi Development Officers Association.

The interest, which was eight pc during the previous regime, was upped to 10 pc soon after the present government took office, and it has now been set at 12 pc, said secretary of the association Chamara Maddumakaluge.

All the money in the Samurdhi banks, started to uplift the poor, is owned by the beneficiaries themselves, but they have to pay interests similar to commercial banks when taking credit against their own money, he said.

Given below is the ministry circular to raise the interest rate:

loan range 2017.07.31