Pensioners Home Improvement Loan
The purpose of the loan is for house renovation, landscaping, rock blasting etc….. but not for the purchase of household items
- The purpose of the loan is for house renovation, landscaping, rock blasting etc. and not for the purchase of household items.
- Only one HIL per household is allowed.
- The maximum loan amount is SR50,000.00.
- Interest does not apply (0%) and the maximum loan term is 7 years.
- Applicant must be a pensioner (65 years and older) and in receipt of a monthly pension.
- Applicant should provide a guarantor who is gainfully employed.
- The loan is disbursed by installments against pro-forma invoice and upon building inspectors certification.
- Pensioners may also be assisted under the complete Re-Roofing Scheme with the same terms and condition except that the maximum loan amount is SR100,000.00.