House Renovation Loan
A personal loan for employees to renovate a residential house.
Eligibility: Employees of institutions with a 6-month relationship (waived for government).
Key Features:
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- 5-year maturity.
- Interest: Saving rate + 9.5%.
- The house to be renovated must be in the employee’s or spouse’s name and is held as collateral.
- Requires employer undertaking and bill of quantity.