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Requirements for applying for a National Building Society loan
- You should have been receiving your salary in a National Building Society for at least 3 months.
- 3 months bank statement
- Your current payslip
- A copy of national ID, Passport or Driver’s license
- Confirmation Letter of Employment
The Confirmation Letter should be written your current residential address
- Proof of residence or lease agreement
Loan Conditions of Nationa Building Society’s salary based loan
- Maximum amount to borrow
Up to 8.5 times of your net salary
For instance, if your net salary is $1000, the maximum amount you can borrow will be ($1000 x 8.5) $8500
- Interest rate
Between 31% to 35%
- Maximum repayment period
The salary based loan is repaid monthly for 60 months regardless of the amount you borrow.
- Loan top-up after 6 months
You can borrow more money after making monthly payments for 6 months.
- Other loan fees
The establishment fee or origination fee or loan application fee is $250