Land Loan

1. PURPOSE:
a) To assist eligible Seychellois citizens to purchase land, either from the Government
Land Bank or private market.
b) The land to be purchased is to be used for the construction of a private dwelling only.

2. MAXIMUM LOAN AMOUNT: SCR150,000.00 only for the purchase of private land, depending
on the applicant’s ability to sustain and repay the loan.

3. INTEREST RATE: 7% interest (variable) on the full amount of the loan.

4. DEBT SERVICE RATIO (DSR): A minimum of 30% to a maximum of 45% of the applicant(s) net
income would be calculated as the monthly repayment instalment.

5. MAXIMUM LOAN REPAYMENT TERM: Maximum term of 6 years (72 months) though the
loan should be fully repaid before the retirement age (65 years).

6. MAXIMUM NET SALARY:

a) Applicant(s) should be gainfully employed and earning less than SCR30,000.00 net per
month (proof is required).
b) In case of self-employed, proof of income will have to be provided, together with the
business registration certificate and license.

7. ELIGBILITY: Applicant(s) must be over 18 years old and should repay the loan before reaching
retirement age (65 years).

8. LOAN DISBURSEMENT: The loan is disbursed in one instalment to the Seller of the land, i.e:
a) To the Government where it concerns land from the Land Bank;
b) To the Seller where it concerns private land, through HFC’s lawyer’s office.

9. SECURITY:
a) The loan is secured by a First Line Charge on the purchased land.
b) Stamp duty and registration for the transfer of the land is payable by the applicant(s).

10. REQUIRED KYC DOCUMENTS: Required documents are ID card, latest payslip, bank statement
with 6 months’ transaction, proof of address and proof of income, if self-employed, etc.

11. PROCESSING FEE: 0.75% of the loan amount is payable by the applicant at the time of
interview for the loan.