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.
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 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.
Pensioner may also be assisted under the complete Re-Roofing Scheme with the same terms and condition except that the Maximum loan amount is SR100,000.0