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.
To support capital expenditure, financing projects or can be used as working capital.
Period and Repayment
Short term loan repayable up to 24 months
Medium term loan repayable between 24 and 60 months
Long term loan repayable between 60 and 120 months
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:
The drawing and repayment of funds is made in accordance with a prearranged schedule which is matched to the borrower’s needs.
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.
Security of knowing that finance is available for the required period.
Pre-planned draw downs and repayments facilitate accurate budgeting and disciplined repayments.