Mortgaged Secured Loans:

  1. Mortgaged secured loan are loans in which an asset such as land may be pledged by the applicant or applicants to guarantee or secure the loan from the Corporation.
  2. Land financing are also available whereby the purchased land will be mortgaged to the Corporation to secure the debt. The land equity requirement is 30% of the land cost, and the land area is limited to a quarter acre piece which is set aside for residential purposes only and not for Commercial use.
  3. The maximum amount for loan secured with a land mortgaged is $120,000. The amount however will be determined by the land security value and the ability of the applicant or applicants to pay.
  4. The loan term is normally to 10 years, but can be extended to 15 years maximum.

Small Loans:

  1. This product is available for those who do not have freehold land to secure a loan from the Corporation. On average, three people may guarantee and the guarantors may either be self employed with a stable income, or someone who is employed in the Government or in the private sector. Close relatives, spouses or children are encouraged to be involved as guarantors.
  2. The loan minimum is $2,000 and maximum amount at $20,000 tala.
  3. Loan funds may be used for the construction of new houses, renovations and repairs, and house extensions.
  4. Loan term is limited to five years.
  5. The interest rate vary from time to time depending on the existing rates at the time.
Rental Houses
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Rental Houses

We also provide rental houses to the public at very competitive rates.