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Frequently Asked Questions

Welcome to the AID Bank's general questions and answers section. We update regularly the questions and answers to reflect the latest concerns and issues of our customers. These questions and answers came from viewers like you. We hope you find them helpful and informative. Please let us know if you encounter any problems or have suggestions. To send a comment, go to our feedback by email page. Please use the word FAQ in your comment.

We are open from 8am to 2pm (Mon-Thurs) and 8am to 4pm (Fri).

We are a development Bank which focuses on lending in order to promote and influence economic development in Dominica. We are not a commercial bank.

Loan account statements cost $5.00.

The Bank offers loans for Agriculture, Manufacturing, Tourism, Transportation, Services, Commerce, Housing, Land Purchase, Working Capital, Education and Personal. 

Yes, Dominican nationals, resident overseas, can apply for loans.  However, any form of collateral must be in Dominica.

The Bank no longer offers fixed deposit services to the public.

The ATM machine located on the bank’s premises is that of the National Bank of Dominica. Any faults or enquiries should be forwarded to them as we are not liable for its operation.

We do not provide foreign exchange services, however we do accept loan payments in foreign currency.

The age range for loans is 18-70 years at the discretion of the Bank.

Yes, we do, however we do not process payments on our website.  Payments can be made in person at the Bank or by faxing your credit card information to us.

No, the bank stays open to facilitate our customers during lunch.

Interest is calculated on the reducing balance and accumulates daily.

Usually no penalty exists. However, in the case of mortgage loans, six (6) months interest is charged for early closure.

If a loan is paid-off in advance, the only rebate is that the customer would have paid less interest than if the loan had been paid until the end of its term.

Clients are encouraged to communicate with the Bank as soon as they encounter challenges with their debts. We are prepared to find workable solutions acceptable to both parties.

The Bank is owned by the Government of Dominica (72%) and the Dominica Social Security (28%). No shares are being offered for sale at the moment.

AID Bank scholarship policy will be reviewed as it deems necessary.

The maximum education loan sizes have been increased to $148, 220 for law and medical studies, and $121, 270 for other programmes of study.

The AID Bank no longer funds personal loans.

Once all the information required has been provided to the Bank, it should take from a couple days to three (3) months depending on the size and purpose of the loan.

Each loan has varying criteria and loan applications which
are considered once these requirements are met. For further information be sure to read our security requirements and checklists.

The Bank borrows funds from International, Regional and Local funding agencies to onlend to its customers.

The acting General Manager is Mrs. Mathilda John-Rose.  

The AID Bank is governed by a Board of Directors.

The AID Bank is located in a 3 storey, blue building at the corner of Charles Avenue & Rawles Lane, Goodwill.