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