A simple Line of Credit, ready when you need it
Get quick access to funds and unlock a world of possibilities, gifts, travel and more!
Get your pre-approved credit limit with us!
Easily and repeatedly withdraw funds up to the approved limit without applying for another loan.
Line of Credit Facilities
Lines of Credit (LOC) are revolving loan facilities. They function in a similar fashion to credit cards without the physical card. The best for is you can continuously access funds up to the specified limit without needing to apply for a new loan each time!
Currently we offer the following Line of Credit facilities:
You may use your Line of Credit for any of your financial needs (avoid high Credit & Hire-purchase charges)
Click More Information for specifics on LOC facilities.
What are the terms?
Seasonal Lines of Credit
These facilities include back to school loans and Xmas loans. Although these facilities have a set repayment period the loan is so structured that after it is repaid funds are made available for the member to withdraw again. Back-to-school LOC and Xmas LOC are structured to be repaid in
twelve (12) months. These facilities are made available within the Summer and Christmas periods respectively where the member can advance the approved limit and then closed once that period has ended.
Back-to-school Top-Up LOC and Xmas Top-Up LOC are structured to be repaid in fifteen (15) months. These facilities are made available within the Summer and Christmas periods respectively where the member can advance the available funds taking the loan up to the approved limit and
then closed once that period has ended.
- $1,000.00/$2,500.00
- Competitive interest rate
- Closed-ended (Must be repaid in 12 – 15 months)
Easy Home Equity Line of Credit Facility
This facility is a line of credit that is secured by a mortgage or further charge over a property. The maximum equity that can be considered in an assessment is 60%. Equity is calculated as the difference between the market value of the property versus the outstanding balance on the loan
secured by the property.
These facilities shall be subject to the following conditions:
- The repayment shall be set at 1.5% of limit approved payable monthly
- A maximum period of 20 years is granted for repayment.
- The rate of interest shall be determined by the Board of Directors from time to time.
- These facilities shall be available for use by the members for any legitimate purpose.
- The security being established for such facilities shall be open-ended with the option to upstamp.
Collateral Protection Line of Credit
These facilities are for the purpose of covering vehicle insurance and property insurance. Although these facilities have a set repayment period the loan is so structured that after it is repaid funds are made available for the member to withdraw again. Members must provide either the renewal notice or proof that the insurance has been paid in full in order to access the funds from this account.
- Competitive interest rates
- Closed-ended (Must be repaid in 12 months)
- Deposit required $150.00