Terms and Conditions for Tourism Loans
The terms and conditions of tourism loans vary based on the nature of the project to be financed. The repayment term, for example, is related to the economic life of the asset being financed, which may be four to five years in the case of a vehicle. However, the following general terms apply:
|Interest Rate:||9% on the reducing balance|
|Term:||Up to 15 years|
|Grace Period:||Depends on the implementation period of the project|
|Security:||Loans must be fully secured using an acceptable combination
of security as shown in Security Requirements below.