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Dominica Agricultural Industrial Development Bank
P.O. Box 215
Cnr. Charles Avenue and Rawles Lane, Commonwealth of Dominica.
Telephone: 767-448-2853
Facsmile: 767-448-4903
E-mail: aidbank@cwdom.dm
E-mail #2: cs@aidbank.com

Special Housing Scheme - Venezuelan

The Government of the Commonwealth of Dominica has obtained a line of credit from the Government of the Bolivarian Republic of Venezuela for a special housing program with low interest rates. The eligibility criteria, terms and conditions of this program are as follows:


Do you qualify?

Eligible Borrowers are persons from Statutory Bodies, Banks and other Private Sector businesses receiving maximum monthly salaries of $2,000 for single persons and $3,000 for joint incomes.


Loan Terms and Conditions

Loan Amount: Maximum of $220,000
Installment/Salary Ratio: Maximum of 40% of your salary
Interest Rate: 5 percent on the reducing balance
Grace Period (Interest): 6 months
Repayment Period: 20 – 30 years depending on age of customer
Examples: Single Income
Salary $2,000 (40% ratio = $800)
Loan size $120,000
Installment $791.95 (20 years)

Single Income
Salary $2,000 (40% ratio = $800)
Loan size $149,000
Installment $799.86 (30 years)

Joint Incomes
Salary $3,000 (40% ratio= $1,200)
Loan size $180,000
Installment $1,187.92 (20 years)

Joint Incomes
Salary $3,000 (40% ratio = $1,200)
Loan size $220,000
Installment $1,181.01 (30 years)

Security Requirements

The loan can be secured by Certificate of Title, fixed deposit, building insurance and life insurance of borrowers.