REFINANCING LOAN FACILITY
This is to inform our esteemed members that the Board of Directors has approved the introduction of a REFINANCING LOAN FACILITY, effective from May 16th, 2016. The product whose features are detailed below is optional and for members who meet the mandatory requirements.
` FEATURES |
REFINANCING LOAN |
Repayment |
72 Months |
Interest Rate |
15% pa (1.25% pm) on reducing balance |
Loan Entitlement |
3 x Main shares |
Restructuring/Top up |
Yes, restricted. 2 Months’ charge at 20% p. a Subsequent restructuring after 2 years |
Consolidation |
Not available |
Security |
Guarantors |
*The loan multiplier shall remain 2x for Senior Citizen and Police categories.