Seylan Bank launched a novel housing loan scheme branded “Hadha Medura” in June 2008.

The unique feature of “Hadha Medura is that Seylan Bank promises its housing loan applicants, disbursements of the loan within 10 days of completion of the required documentation.

The demand for houses and urban infrastructure is expanding rapidly with the population growth and urbanization. The population is growing at 1.1 per cent annually, whereas the urban population is growing at a higher rate of 3 per cent. Trends indicate that more than half the population of the country would live in urban areas by 2016, requiring rapid development of urban infrastructure. The annual new demand for houses in Sri Lanka is estimated to be around 100,000.

The hassle of having to submit various documents from time to time in order to complete documentation, has been a regular irritant for those who apply to financial institutions for housing loans. However, the “Seylan Hadha Medura” Housing Loan promises to overcome such problems and to disburse the loan within 10 days once such documentation is complete.

Speedy processing, coupled with an affordable rate of interest would give “Hadha Medura” an advantage over run-of-the-mill housing schemes available in the market. In order to make this a reality, the bank would entertain applications and disburse such loans at a specialized unit at the 08th floor of the Ceylinco Seylan Towers.

For further details please call 011 2456829 or email cfu@seylan.lk