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.

• 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.