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ISSUING OF LOANS :

Following loans operate in respect of permanent employees of public, government corporations and local government institutes.

Loan Amount Installment Installment (Rs:) Loan Cover  Full Interest 10%  Interest 10% (Monthly) Interest 10% (Annually)
 20,000 10 2,167 21,670 1,670 167 1,670
30,000 24 1,500 36,000 6,000 250 3000
40,000 24 2,000 48,000 8,000 333 4000
50,000 24 2,500 60,000 10,000 417 5000
75,000 24 3,750 90,000 15,000 625 7500
100,000 24 5,000 120,000 20,000 833 10,000
150,000 36 5,417 195,012 45,012 1,250 15,004
175,000 36 6,320 227,520 52,520 1,459 17,507
250,000 36 9,028 325,008 75,008 2,084 25,003
300,000 36 10,834 390,024 90,024 2,501 30,008
350,000 36 12,639 455,004 105,004 2,917 35,001
500,000 36 18,056 650,016 150,016 4,167 50,005

We grant Rs.250, 000/- loan to the staff officers only.

TO OBTAIN A LOAN FROM LADY LOCHORE LOAN FUND YOU SHOULD BE :

  • In a government pensionable post with 3 years confirmed status.
  • Semi-government pensionable servants with 5 years confirmed service.
  • The retiring age at the time of granting the loan is considered as 55 years.
  • Able to recover 40% as loan installments from the pay.
  • Applicant should furnish two sureties with pensionable service and 3 year permanent period of service.
  • Non-Pensionable applicants shouldprovideone pensionable surety and anotherguarantor with five years continuous service.
  • Should submit dulycompletedand certified document to support.

LOAN INTEREST RATES :

Loans are released on a flat Annual Interest rate of 11.5%.


LOAN RECOVERIES :

Monthly installments will be deducted from the salary with the approval of the head of the department of the applicant.


SPECIAL BENEFITS OF LADY LOCHORE LOAN FUND :

  • Investment certificates are not held as guarantees.
  • The interest levied is less than the bank rates, while the interest is being charged on the balance at the end of the month.
  • Applications could be obtained on payment of a nominal fee of Rs. 150/-.
  • Loan application could be obtained free of charge by downloading from LLLF website (www.lochorefund.gov.lk) to obtain the loans without being a member of the Fund.

HOW TO OBTAIN A LOAN FORM LADY LOCHORE LOAN FUND :

  • Applications obtained by visiting the office, bypostor by downloading from the LLLF website should be duly completed and submitted to this office with the certification of the Head of Department of the employee’s work place.
  • Loan applications received are evaluated and if eligible, the applicants will be informed to complete the bond together with the sureties on a first come first served basis of application being received in the office of the LLLF.
  • On signing the bond, the loan applicant should forward a letter from the Head of this Organization certifying thatthe loan instalments will be deducted and sent to LLLF office after releasing the loan to the applicant.
  • As agreed the invoices will be directed to applicant’s service organization on a monthly basis to remit the value of the invoice.
  • On completing recovery of the instalmentsin full, the Organization will be kept informed of thefull settlement of the loans.

 

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