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Loans for pensioners

Pension loan rates, terms and charges, read from each bank’s own website.

Rates checked 14 October 2026 on each bank’s own website

In short

  • BOC Government Pensioners’ Loan Scheme: 12.50% fixed up to five years, 13.50% up to seven and 14.50% up to 15.
  • NSB pension loans: 13.00% for any term up to 15 years, fixed for two years and then reviewed every six months.
  • On Rs. 1,000,000 over five years, BOC’s 12.50% costs about Rs. 22,498 a month and NSB’s 13.00% about Rs. 22,753.
  • BOC charges 1–3% of the balance to settle a pensioners’ loan early.

Rates compared

BankLoanRate a yearTermsSource
Bank of Ceylon (BOC)Government Pensioners’ Loan Scheme12.50%fixed; up to 5 years (13.50% to 7 years, 14.50% to 15 years)Bank’s site
National Savings Bank (NSB)Pension loan13.00%up to 15 years; fixed 2 years, then variableBank’s site
effective 2 June 2026

Charges

  • Settling early (BOC): 3% of the balance within 3 years, 2% from 3 to 5 years and 1% after 5 years (housing, personal and government pensioners’ loans).
  • Late payment (NSB): NSB charges 2% a year penal interest on a monthly instalment only after a 30-day grace period.

A bank loan or an online loan?

Bank loans like these cost around 11–15% a year. Online loans are faster but cost from 190% APR to over 800% a year, so use them only for small, short, urgent needs. Compare bank personal loan rates.

Frequently asked questions

Can a pensioner get a bank loan in Sri Lanka?

Yes. BOC runs a Government Pensioners’ Loan Scheme and NSB offers pension loans for up to 15 years.

Which pension loan is cheapest?

For up to five years, BOC’s 12.50% fixed rate is lower than NSB’s 13.00%. Above seven years, NSB’s 13.00% is lower than BOC’s 14.50%.

Are pension loan rates fixed?

BOC lists its pensioners’ loan rates as fixed. NSB fixes its rate for two years and then reviews it every six months.

Sources