Frequently Asked Questions - Unsecured Loans
What are the requirements of applying for an unsecured loan with SCB?
The requirements are:
- Be Salaried from approved companies. Salary should have been accruing to the account for 3 consecutive months.
- Have a minimum net salary of $300 (approved company) and $500 (non-approved company)
- Have proof of income (latest original payslip)
- Have a copy of employment contract (where applicable)
- Provide your Metal/plastic ID, Valid passport or Driver's licence
- Show proof of residence (recent utility bill)
- Be aged: 24-60 years
- Complete an application form with all the applicable terms and conditions.
What is your current interest rate for the unsecured loans?
Our rates are competitive with our maximum rate at 18% (on reducing balance method).
Do I have to have an account with you to apply for a credit facility?
No, you don't have to have an account with us to apply for a loan (applicable to Scheme Loans).
What are the other charges applicable?
Establishment fees -3.5% (of loan amount), interest rates – 18% per annum, insurance – 6.25% per annum.