S.M.E. Sector Specialized Loans
A country with a clear vision and a commitment to move forward developing village economies, need to make available micro financing to the priority sectors. Regional Development Bank has always been assisting small and medium scale enterprises. Such as small scale industrialists, entrepreneurs, self employment sectors etc., these facilities are available on soft securities and at concessional interest rates, convenient repayment periods, and most of all with grace periods until the project realizes regular incomes. The facility requests are mostly evaluated on the viability of the project and the ability of the applicant to repay.
Loans for Self Employment
A number of startup loans are available at RDB under different brand names for different sectors ‘SEPI ’(Self Employment Promotion Innovative loan scheme) loans are offered to entrepreneurs who have undergone professional training in a specific field and wish to start up a business project in that line. These loans are provided at attractive interest rates and on soft securities.
These loans are offered solely for self employment projects with attractive interest rates and on soft securities.
RDB is one of the very few institutions in the country that provides loans to farmers for paddy and soya bean cultivation and to stock their produce until the market prices become favorable in a short time span of 270 days. RDB took the leadership in 2010 to assist soya bean farmers to stock soya beans when the prices drastically dropped due to heavy production. These loans too are offered at concessional interest rates and soft securities.
Fisheries Industry Loans
Loans to the fisheries sector are available at concessional interest rates and soft securities to purchase fishing equipment and for community development. Further loan facilities are also offered to purchase multi-day fisheries boats and other small boats. RDB also offers special loans for inland fish farming and ornamental fish breeding.
Techno Based Industries
Having identified the future demand for fuel and the increasing costs of fuel, RDB offers loans for solar power generation, and small scale power generation projects at convenient terms and lower interest rates.
Commercial & Business Purpose Loans
RDB’s commercial and business Loans are offered for retail trading and stock purchasing purposes. The uniqueness of these facilities is that most of these facilities are processed through the banks collection agents who make visits from door to door. The target clientele also has the luxury of servicing these facilities through these agents saving their valuable time to come to the bank regularly.
Transport Sector Loans
RDB is also one of the very few banks that provide loans to meet transport requirements of rural sector by providing loans to purchase vehicles. These loan facilities are availabe at low interest rates and soft securities.
Isuru is a loan scheme designed for poverty alleviation. Small groups comprising of five to seven women earning incomes lower than the poverty level could apply for these loans for income generating projects. These facilities are also offered at concessionary interest rates and on soft securities.
Housing Loans
RDB offers special housing loan schemes for the lower income sectors at attractive interest rates. These loans are granted with repayment periods up to 15 years. Housing loans are offered for purposes such as outright purchase of a house, to buy a land to build a house, renovations and to add new units to an existing house.
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