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Latest News

9 July 2019

Back to School Loan

8 July 2019

Gerald Major SEA Awards 2019

Loan Rates & Criteria

Lending Criteria

  • All loans must satisfy a Debt Servicing Ratio (DSR) of not more than 40%.
  • Permanent employees can access up to a maximum of three time the value of their shares; whereas, temporary employees are entitled to one and a half times their shares. Requests outside this range will require a waiver.
  • All loan applications, with the exception of a share loan, must be accompanied by the Applicant’s most recent pay slip, Job letter, Valid form of ID and documents supporting the purpose of the loan. ( e.g. Invoices, quotes, estimate, etc.)

Interest Rates and Lending Ratio

Loan Type Lending Ratio Monthly Interest Rate
Share loans 1:1 0.75% reducing balance interest rate
20% Personal loans 1.2:1 1% reducing balance interest rate
50% Personal loans 1.5:1 1% reducing balance interest rate
2:1 Personal loans 2:! 1% reducing balance interest rate
Hire Purchase loans 3:1 Not exceeding $25,000.00 1% straight line
Quick Cash loans 3:1 Not exceeding $15,000.00 2% straight line
House and Land 6:1 (8% for first-time owners) 0.75% reducing balance interest rate
Business loans 3:1 9% p.a. straight line interest rate
Education loans (tertiary) 4:1 (proof of acceptance required) 1% straight line interest rate
Bridging loans N/A 0.67% straight line interest rate
Demand loans 9-month duration 0.75% straight line interest rate
Dividend Loans in excess of shares 1.5 to 2.5 times shares 1% on reducing balance
Debt Consolidation 2.5 times shares, not exceeding $100,000.00 1.25% straight line rate
Demand Loan 3:1
Waiver 3:1
Major Medical 5:1 1% reducing balance
Vehicle Loans
New 6:1 1% reducing line
Pre-owned 4:1 (up to four years old) 9% p.a.
Pre-owned 3:1 (4-8 years old) 10% p.a.
Foreign Used 4:1 (up to 4 years old) 10% p.a.


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