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Pensioners Loan Product and Guarantor Plan
Terms and conditions for the Pensioners loan product

 

Pre-requisite FML’s Pensioner Guarantor Plan
Age Limit 18 to 68 years
Loanable Amount minimum of $200 (5 x monthly pension payout) subject to minimum amount of $100 and maximum $3 000.

However, pensioners aged above 65 up to 68 will get a maximum loan of $1,000.

Application Fee $5
Loan Clearance Fee $3 frst time application, No charge repeat loans
Establishment Fee 2.5%
Lending Rate Up to 12% p.a <
Repayment Period Up to 24 months
Frequency of Repayment Installments Monthly
Credit Insurance As per FML Guarantor Plan

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