Home Improvements, to purchase home furnishings, educational expenses, savings, investments, medical expenses, automobile for personal use, wedding expenses, vacation expenses (airline ticket/accommodations), to consolidate credit card debt, to liquidate credit union debt
Less security establishment fees
Extended payback period (repayment term)
Equity/down payment is not required
No ceiling. The total value of the facilities extended including the mortgage balance must not exceed 90% of the market value of property as determined by an up to date valuation of no more than two years.
Minimum 10 years
7.5% per annum for amounts up to $8,000,000
9.5% per annum for amounts over $8,000,000: up to $10,000,000
10.00% per annum for amounts over $10,000,000 up to $12,000,000
11% per annum for amounts over $12,000,000
Conditional, depending on the purpose of the loan
Monthly amortized payments.
Up to $8,000k 0.5% of loan amount
$Min. - $6,000.00
Max. - $20,000.00
Over $8,000k 0.5% of loan amount
Max. - $155,000.00
Life insurance coverage for the full value of the loan on the life of the borrower is compulsory.
Loans shall be secured by demand mortgages on residential properties
i.e. land and building registered in the name(s) of the borrower(s) for
which the equity loan is being granted.
Mortgages will be established, utilizing the following:
Registered Declaration of Title
Certificate or document of absolute title under the Lands
Lease for a term of not less than forty years
How to Apply
Visit or call any of the nearest Republic Bank Branches to see a Loan Officer.