No Fale Nofo'anga (Construction of residential house)
This new loan product was approved by the Board in June 2015 to be commenced on 1st August 2015. Main purpose of this new product is to generate new income and increase revenue. With TDB continuing to generate surplus liquidity in its Bank accounts (including funds held at no interest in the ESA at NRBT) this product provides a low risk option to utilize the funds.
Preference is also given to established clients of the Bank with good track record and the view to retaining such good clients with the Bank rather than going elsewhere.
|Variable Interest Rate
|Variable according to loan size but not less than 25% of total cost
|All items purchased with loan funds are to be taken as security
|Maximum Term in Years
|Can be charged to account.
|All disbursements must be controlled and paid according to the approved development plan, and as stated in the Loan Agreement.