MUTUALLY GUARANTEED LOANS – CIVIL SERVICE
Civil Service Employees who are paid through the Salary Services Bureau (SSB) and do not receive salaries through POSB are eligible for Mutually Guaranteed Loans. In groups of 3, Civil Service Employees can cross guarantee each other and the group can collectively apply for individual loans.
Mutually Guaranteed Loan Application Requirements
- Applicant must be employed in the civil service and paid through SSB.
- Applicants must arrange themselves into groups of 3 to cross guarantee each other.
- Original and copy of IDs for all applicants. (National ID, Passport, or Driver’s license).
- Proof of residence for all applicants (Utility Bills, Letter from Employer, Village Chief, District Council, Headmaster).
- Payslips for the last 3 months.
- Bank Statement for the last 3 months.
- Recommendation letter from employer.
Benefits
- Low interest rate.
- Long repayment periods.
