Permanent Invalidity & Disability Home Improvement Scheme

1. PURPOSE:

a) Home Improvement Loan:
i. To assist eligible Seychellois permanently invalid and/or disable applicant(s)
to (i) conduct minor renovations of an existing house where they are residing;
(ii) carry out landscaping works; (iii) do site clearing works, such as rock
blasting etc;
ii. The loan is not for the purchase of household items;
b) Complete Re-Roofing Loan:
i. To assist eligible Seychellois permanently invalid and/or disable applicant(s)
to completely re-roof an existing house where they are residing. The loan is
not for any other renovation purposes.
c) The house to be renovated or re-roofed should be in use for private residential
purpose only;
d) Only one Home Improvement Loan and/or Complete Re-Roofing Loan is allowed per
household under this Scheme.

2. MAXIMUM LOAN AMOUNT:
a) Home Improvement Loan: SCR50,000.00.
b) Complete Re-roofing Loan: SCR150,000.00.

3. INTEREST RATE: 10% interest (variable) on the full amount of the loan.

4. MAXIMUM LOAN REPAYMENT TERM:
a) Home Improvement Loan: Maximum term of 5 years (60 months);
b) Complete Re-roofing Loan: Maximum term of 7 years (84 months).

5. ELIGBILITY: Applicant(s) must be over 18 years old and in receipt of a monthly benefit.

6. LOAN DISBURSEMENT: The loan is disbursed by instalments upon HFC’s Building Inspector’s
certification.

7. SECURITY: The loan is secured by a Guarantor who is gainfully employed.

8. REQUIRED KYC DOCUMENTS: Required documents are proof of ID card, confirmation letter
of monthly pension benefit being received, proof of address, bank statement with 6 months’
transaction, etc.

9. PROCESSING FEE:
e) Home Improvement Loan:
i. For a loan of SCR25,000.00 – SCR450.00 is payable by the applicant at the
time of interview for the loan, which includes SCR150.00 for the processing
of the loan and SCR300.00 as Visit Fee.
ii. For a loan of SCR50,000.00 – SCR550.00 is payable by the applicant at the
time of interview for the loan, which includes SCR250.00 for the processing
of the loan and SCR300.00 as Visit Fee.
f) Complete Re-Roofing Loan: SCR1000.00, being SCR500.00 for the processing of the
loan and SCR500.00 as Visit Fee.