Loan Refinance

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Member shall ensure that the payment of the current loan is on schedule as per the repayment schedule.

Repayment of the current loan shall have been made for at least six (6) months.

Member shall demonstrate ability to repay the total loan i.e. the current loan and the additional loan amounts.

A member shall complete a new loan application form.


A member has the following refinance options subject to approval by the Management Committee:

If Member has paid Time Extension Refinance (Topping up) Fee - charged on existing loan balance
50% of Original Loan None Nil
50% of Original Loan Yes 2.5%
Less than 50% of Original Loan None 3%
Less than 50% of Original Loan Yes 4%

A loan refinance within member deposits will not attract a refinance fee.