Loan Facilities
Product definition
A Loan is a facility that is repayable in accordance with an agreed repayment term, over a period of a maximum of ten years depending on the purpose.
Purpose
To support capital expenditure, financing projects or can be used as working capital.
Period and Repayment
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Short term loan repayable up to 24 months
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Medium term loan repayable between 24 and 60 months
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Long term loan repayable between 60 and 120 months
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Reductions or repayment terms are to be discussed with the customer. No stipulated minimum applies
Benefits to the customer
The benefits to the customer are:
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The drawing and repayment of funds is made in accordance with a prearranged schedule which is matched to the borrower’s needs.
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Full repayment of the loan or temporary early reductions may be made at any time subject to a notice and which must be negotiated with the bank.
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Security of knowing that finance is available for the required period.
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Pre-planned draw downs and repayments facilitate accurate budgeting and disciplined repayments.
