Internal Loan Transfer within LIB The transfer of an existing loan from one LIB customer to another. Purpose: To facilitate the sale of a business/assets with an existing loan. Key Features: Only the outstanding balance is transferred. Special privileges on the original loan are not automatically transferred. The new customer must undergo full credit assessment.  

Loan Buyout An arrangement where LIB buys a customer’s loan from another bank. Purpose: To regain ex-customers, attract new ones, or improve loan quality. Key Features: The bought-out loan may be restructured based on negotiation and cash flow analysis.

Staff Automobile Loan A loan for LIB staff to purchase brand new or used (max 10 years old) automobiles for non-commercial use. Eligibility: LIB staff. Key Features: Equity: 5% (new), 10% (used). Max tenure: 10 years. Interest: Saving rate + 1%. Can be granted twice, for different vehicles. Spouse’s income can be considered.

Staff Mortgage Loan A loan for LIB staff for construction, purchase, renovation, or expansion of a residential house. Eligibility: LIB staff. Key Features: Max tenure: 25 years or remaining service years (whichever lower). Equity contribution: 5%. Interest: Saving rate + 1%. Grace period of 6-18 months available. Can be granted twice, for different properties. Spouse’s income […]

Emergency Staff Loan (ESL) An interest-free, revolving loan for LIB staff to meet immediate financial needs. Eligibility: LIB staff (after 6 months of service). Key Features: Amount: 3 to 7 months’ gross salary, based on service years. Repayment: 3 to 6 years. Requires personal guarantor(s) from LIB. Must be settled upon resignation.

Diaspora Mortgage Loan A loan for Diaspora members to purchase or construct residential/commercial houses. Eligibility: Members of the Diaspora community. Key Features: Equity contribution: 20% in foreign currency. Max tenure: 15 years (with grace period). Interest rate: 11% (may be relaxed). The property is held as collateral. Mortgage Redemption Insurance (MRI) is optional.

Diaspora Automobile Loan A loan for Diaspora members for personal use (household items, education, medication, etc.). Eligibility: Members of the Diaspora community. Key Features: Requires channeling 20% of the expenditure value in foreign currency through LIB. Max tenure: 2 years. Repayment in foreign currency preferred. Interest rate: 11% (may be relaxed).

 Diaspora Consumer Loan A loan for Diaspora members for personal use (household items, education, medication, etc.). Eligibility: Members of the Diaspora community. Key Features: Requires channeling 20% of the expenditure value in foreign currency through LIB. Max tenure: 2 years. Repayment in foreign currency preferred. Interest rate: 11% (may be relaxed).

House Completion Loan A personal loan for employees to complete a residential house under construction (must be at least 70% complete). Eligibility: Employees of institutions with a 6-month relationship (waived for government). Key Features: Finances the remaining 30% of construction. Disbursed in two phases. Interest: Saving rate + 9.5%. The house is held as collateral.

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: 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 […]