Campaign Title
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Integer nec odio. Praesent libero. Sed cursus ante dapibus diam. Sed nisi.
- A highly competitive interest rate
- Available for the purchase, construction, renovation of homes and more
- Minimum cash deposit of just 10%
- Minimum cash deposit of just 10%
- Minimum cash deposit of just 10%
- Minimum cash deposit of just 10%
From
8.00% pa
interest rate
| Residential and rental | |
|---|---|
| Rates | |
| Variable Interest Rate | 8.00% pa |
| CRR B | 8.50% pa |
| CRR C | 9.00% pa |
| Features | |
| Minimum Amount | $5,000 |
| Deposit | Variable according to loan size but not less than 10% of total cost |
| Security | The house and to include a mortgage on land where house is to be built. Other assets as security. |
| Maximum Term in Years | Maximum terms of 12 years, but shorter term is better. |
| Repayment percentage SD | Normally by salary deduction with 50% salary deduction allowed, 60% can be considered depending on total salary and other reliab |
| Fees | Can be charged to account. |
| Disbursement | Direct to supplier or contractor |
| Quotation of costs | There must be two quotations from two different builders or contractors, for more realistic estimates. |
Eligibility Guideline – Applicants
Applicants considered under this Sector should be:
- 1. Applicants with property or land considered by the Bank to be in a prime location.
- 2. Tongan Nationals who hold a legal ownership of the project land.
- 3. Tongan Nationals, Residents or anyone with leasehold land or property with remaining lease terms of at least 20 years.
- 4. Applicants with good creditworthiness.
- 5. One of the borrowers must be the title holder of the project land or property.
- 6. Existing good clients of the Bank and collateral coverage should be at least 1.0 Times Bank Security Value (BSV).
- 7. Applicants where there existing housing loan is being taken over from another bank in order to lengthen the overall security position of TDB and to ensure repayment capacity through SD deduction. In this instance the term must be restricted up to 12 years.
- 8. Ability to repay must be assured from salary assignment. However long established clients of the Bank with excellent repayment records can be considered in the event where SD may not be possible. Other source of income is assured over the term of the loan.
- 9. Location - situated in a prime location within the main town area and suburbs. Other outlying areas may be considered on a case-by-case basis
* Nulla quis sem at nibh elementum imperdiet. Duis sagittis ipsum. Praesent mauris. Fusce nec tellus sed augue semper porta. Mauris massa. Vestibulum lacinia arcu eget nulla. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Curabitur sodales ligula in libero. Sed dignissim lacinia nunc. Curabitur tortor. Pellentesque nibh. Aenean quam. In scelerisque sem at dolor. Maecenas mattis. Sed convallis tristique sem. Proin ut ligula vel nunc egestas porttitor. Morbi lectus risus, iaculis vel, suscipit quis, luctus non, massa. Fusce ac turpis quis ligula lacinia aliquet. Mauris ipsum.
