Terms and Conditions for Housing Loans
The terms and conditions of Housing loans vary based on the nature of the loan financed. For example, the repayment term depends on the size of the loan, the customer’s age and the customer’s ability to pay. However, the following general terms apply:
| Interest Rate: | 9% on the reducing balance |
|---|---|
| Term: | Up to 30 years |
| Grace Period: | Six months |
| Security: | Loans must be fully secured using an acceptable combination of security as shown in the Security Requirements for Housing Loans. |