Subsidised Housing Loans
The Seychelles Credit Union offers first time home owner Members Subsidised Housing Loans on behalf of the Government at attractive interest rates and flexible repayment terms.
Subsidised Housing Loans
As a Member, you are eligible to
- Maximum of SCR600,000 after having allowed for government subsidy
- Interest rates at 10.5% per annum on a reducing balance basis
- Up to 20 years to repay the Loan
Conditions
Please note that eligibility is also subject to
- 10% cash collateral frozen from borrower’s shares and/or savings accounts
- Proof of monthly salary or income
- Mortgage of property
- Mortgage protection insurance cover
For more information on the terms & conditions of this product, please contact us or pay us a visit at any one of our branches.