The EPF is extending loans to its depositors in order for them to purchase land.

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The Employees Provident Fund (EPF) is allowing its depositors to borrow up to Rs 5 million for the purpose of purchasing property.

to the EPF, the provision was made by supporting Depositors Borrowing 201, which was approved by the in 2015. To yet, the EPF has only provided loans to consumers for the acquisition of residential properties..

A loan with a maximum maturity of 15 years will be made available to the borrowers under the new provisions. Interest will be charged on the loans that will be provided against land as collateral at a rate of 7.9 percent per annum on the borrowed amount.

Approximately 600,000 employees from government offices and enterprises represented by the in total.

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