Current Rates

Fixed Deposit Rate - 3 Months

10.25% p.a

Loan Rate - Residential Housing

14.5% - 16.00% p.a

Loan Rate - Personal Loans

16.00% - 16.5% p.a

Pawning Rate

18% p.a

*Conditions Apply

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Loan Schemes with Refinanace
Kapruka Ayojana Loan Scheme (Implemented With Coconut Cultivation Board)

Kapruka Ayojana Loan Scheme is a concessionary financial assistance service conducted by The Coconut Cultivation Board (CCB) in collaboration with People’s Bank, to provide investment capital for the development of coconut lands. Through this credit scheme, financial assistance and technical advisory services are provided to coconut growers in concessionary terms under 10 development categories. The primary objective of this funding service is to facilitate the development of coconut lands as whole farm units, where integrated farming systems are encouraged to attain high productivity and production.

  • Operational Regions
    All Regions
  • Interest Rate
    9% per annum
  • Maximum Amount
    Rs.3.0 Mn
  • Repayment Period
    05 years, including a maximum grace period of 12 months
  • Securities
    Two personal guarantors acceptable to the Bank and, mortgage over a movable or immovable property
  • Areas for which credit is provided
  • Coconut new planting & inter-cropping
  • Coconut replanting & inter-cropping
  • Rehabilitation of coconut lands & inter – cropping
  • Special projects related to coconut cultivation
  • Coconut mono-cropping
  • Establishment of drip irrigation system
  • Establishment of flexible pipe-line water projects. (hose irrigation system)
  • Farm machinery for coconut intercropping
  • Nursery establishments
  • Cattle, sheep, goat farming under adult coconut plantation
Saubagya Loan Scheme

Saubagya Loan Scheme is a special loan scheme designed for the purpose of providing credit facilities for agriculture, livestock, micro, small and medium-scale enterprises (MSMEs).

  • Operational Region
    All Regions
  • Interest Rate
    8%
  • Maximum Loan Amount
    Rs.25,000,000
  • Repayment Period
    Maximum 5 years inclusive of 6 month grace period
  • Securities
    Securities acceptable to the Bank
  • Eligible activities
  • New projects of agricultural sector, industries, income generating activities like services, minor scale tourism, purchase of machinery for construction sector
  • Facilities will be granted for new and innovative projects and disaster affected projects of above categories.
  • Loans will not be provided for the requirements such as the purchase of vehicles and land, constructing buildings, rice mills, garage and for working capital.
Loan Schemes without Refinanace
New People’s Fast Loan Scheme

It could be difficult to keep up with all of the costs associated with running any enterprises., so entrepreneurs need low-interest self employment loans to help them stay afloat. New People's Fast Loans are designed to assist entrepreneurs to run their projects more efficiently and help them to generate profits.

  • Operational Districts
    All Districts
  • Areas for which credit is provided
    Agriculture, agro-industries, self-employments, animal husbandry, small industries, providing services and any income generating activity such as businesses
  • Eligibility Criteria
    The borrower should be a commercially viable entrepreneur carrying on a micro small or medium scale enterprise at least over a minimum period of 12 months.
  • Interest Rates
    Flexible and Competitive interest rates.
  • Repayment Period
    Maximum 3 -5 years
  • Securities
    Securities acceptable to the Bank
  • Maximum/Minimum Loan Amount
  • Micro - up to Rs. 250,000/- (Minimum Loan Amount Rs.25,000/-)
  • Small - up to Rs. 2,000,000/-
  • Medium - up to Rs. 20,000,000/-
  • Borrowers’ equity contribution
    • 10% of loan up to 100,000/-
    • 25% of loan over 100,000
  • Those entrepreneurs who could initially contribute 50% of the total investment as equity also can avail of the credit facilities.
  • The applicants should be within the age group of 18-65 and are permanent residents of the operational area of a branch or should carry out the enterprise within the bank's operational area.
  • The applicants should not be defaulters of any financial institution.
Paddy Pledge Loans

People’s Paddy Pledge loan scheme is a special loan scheme introduced with the intention of assisting Paddy Millers and Paddy Collectors in purchasing paddy. It is a valuable resource to maintain and strengthen the continuous supply of paddy and to operate the Mills more efficiently.

  • Operational Districts
    All Districts
  • Areas for which credit is provided
    Paddy millers and paddy collectors to purchase paddy and other grains.
  • Interest Rates
    Flexible and Competitive interest rates.
  • Repayment Period
    Maximum 180 days
  • Maximum/Minimum Loan Amount
  • No upper limit.
  • Should not exceed 75% of the value of the paddy or grain stock.
  • Securities
  • Two personal guarantors with adequate income, assets, financial standing and acceptable to the Bank together with the pledge over the stocks of grains.

    Or

  • Other securities acceptable to the bank
Ran Aswenna Loan Scheme

Ran Aswenna loan scheme is a special scheme for productivity enhancement and commercialization in farming activities. Providing capital to improve the adaptation of technology and modern agriculture practices of farmers.

  • Operational Districts
    All Districts
  • Eligibility Criteria
    The borrower should be a commercially viable entrepreneur carrying on a business under valid business registration
  • Borrowers’ equity contribution
    25% of the estimated project cost.
  • Interest Rates
    6.54%
  • Repayment Period
    • Maximum 5 years
    • For working capital – Maximum 2 years
  • Securities
    Securities acceptable to the Bank
  • Maximum/Minimum Loan Amount
  • Small scale farmers and farmer organizations – Maximum Rs.5 Mn
  • Agro processing – Maximum Rs. 300 Mn
  • Commercial scale farming – Maximum Rs. 750 Mn
  • Areas for which credit is provided
  • Farming practices adopting paddy, fruits and Vegetables, Pulses, Floriculture, Horticulture
  • Poultry farming and inland fishery farming for modern hatcheries
  • Floriculture nurseries.
  • Ornamental fish related activities.
  • Hi-tech irrigation methods.
  • Agro processing activities
  • Investment in Silo Storage.
  • Construction of rice mills.
  • Purchasing of machineries and equipment
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