Personal Loans
The GBTI Personal Loan Plan is designed for salaried employees, professionals and business individuals who wish to borrow for any of the following:
- Home Improvement
- Household Appliances
- Education
- Vacation Travel
- Medical Expenses
- Weddings and Engagements
The customer is required to contribute 20% of the cost of the project. An interest rate of 12-14% per annum will be changed under this scheme with the repayment period of 24 months. Monthly installment not to exceed 30% of gross monthly income will be set to ensure affordability.
The requirements for obtaining a Personal Loan are:
1) Employment Confirmation Letter
2) Income/Salary Assessment
3) Must be employed for 3 continuous years; proof of business Income if self employed
4) Proof of address
5) Two (2) references
Forms of security acceptable:
1) Mortgage on property
2) Shares in traded company
3) Bill of Sale over vehicle
4) Insurance Policy with C.S.V
5) Cash
