Personal Loans

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Overview

Our Personal Loans are designed for salaried employees, professionals and business individuals who wish to borrow for any of the following:

Home Improvement
Household Appliances and electronic devices
Education
Vacation Travel
Medical Expenses
Weddings and Engagements

The customer is required to contribute 20% of the total project. An interest rate of 12-14% per annum will be charged with the repayment period of 24 months. Monthly installment not more than 30% of your gross monthly income will be set to ensure affordability.

Account Requirements

Valid Identification and one passport size photograph
Employment Confirmation Letter
Income/Salary Assessment
Proof of business Income if self-employed (Recent Financial Statements for the past two years)
Proof of address
Two (2) references
TIN Certificate

Forms of security acceptable:

Mortgage on property
Shares in traded company

Bill of Sale over vehicle
Insurance Policy with C.S.V

Cash

Personal Loans

Consumer

Our Consumer Care Loan Plan makes it easy for customers to acquire new appliances and electronics.

This plan covers items including but not limited to:

Washing Machines
Refrigerators
Stoves
Televisions
Computers

The loan plan ranges from $100,000 to $500,000. The customer is required to contribute 10% of the cost of the item. An interest rate of 12 – 17% per annum will be charged under this scheme with the maximum repayment period of 4 years. Instalments will be repayable on a monthly basis and must not exceed 30% of your gross income.

The requirements for obtaining a Consumer Care Loan are:

Valid Identification and one passport size photograph
Employment Confirmation letter
Income/Salary Assignment
Proof of Business Income if self-employed (Recent Financial Statements for the past two years)
Proof of Address
Two (2) References
TIN Certificate

Automobile

GBTI’s Automobile Loan Plan is designed for the salaried employee, professional or business executive, self-employed individuals desirous of acquiring a vehicle for non-commercial use.

The amount of this loan can be as high as 70% of the cost of the vehicle, to a maximum of $3.5M (new/reconditioned) and $1.5M (pre-owned but not exceeding 4 years). This would require that the borrower contributes the equivalent of 30% of the vehicle cost.

An interest rate of 6.99 – 30% per annum applies depending on the vehicle classification/ condition and year of manufacture. Installments are repayable on a monthly basis (upto 8 years) and must not exceed 30% of your gross income.

The requirements for obtaining an Automobile loan are:

Valid Identification and one passport size photograph
Employment Confirmation Letter
Proof of business income if self employed(Recent Financial Statements for the past two years)
Proof of Address
Two (2) References
Valid Driver’s License
Comprehensive insurance coverage
TIN Certificate

A Bill of Sale for the vehicle can be used as Collateral Security.

WOW

GBTI caters to single parent women with the Women of Worth Loan Facility. This plan allows single parent women to access financing to start their own businesses. These business ventures include: dress making, poultry rearing, floral arranging, hairdressing, childcare, craft and novelty making and fabric designing. This venture is a collaborative one with the Ministry of Social Protection.

Applicants must be registered with the Ministry of Social Protection Single Parent Registry and be issued with an Introductory Letter by the Ministry or its Representative Agency. WOW Loans are available from $100,000 to $250,000 with a maximum of 24 months repayment term at 6% interest rate.

The Bank provides successful applicants 100% of the required amount needed for the loan and no equity is required.

Express

This facility provides customers access to quick cash at the same time, gives them the opportunity to save their own money. These loans are cash secured and are issued within an expeditious manner.

There is no maximum stipulated amount since this is a cash-secured facility.

Express Loans carry an interest rate of 7 – 7.5% per annum.

An application for this loan can be made with any counter staff.