Retiree Loan
FEATURES
Interest rate of .75% orb
Shares/Deposits/Fixed Deposits are the main collateral security for this loan.
Qualification is based on 1:1 ratio of shares and deposits.
REPAYMENT PERIOD
The repayment period for this loan ranges from 6 months to 9 years or up to age 70 of applicant not exceeding 9 years.
REFINANCING
Loan can be refinanced at any time.
HOW TO APPLY
Applications to be completed on Reitree Loan Form available at the Credit Union office.
Applicant may be interviewed by CRA.
PAYMENT
Loans will be disbursed within 48 hours of approval.
Repayment will be through the remittance of interest from fixed deposit held at the credit union and/or cash.
