With a competitive interest rate and up to 8 years to repay, you can borrow up to 10 times your savings! Max of 5 Million Dollars.

“Always have access to cash when you need it. As long as you repay your loan and you feed it.”

Why a TIP Regular Loan?

  • Borrow up to 10 times your savings
  • Same day approval
  • Up to 96 months to repay
  • Access loan every 3 months

 

General Information

  • Must be a consistent financial member for at least six (6) months
  • For loan eligibility, a TIP for Life plan is a prerequisite
  • Members must be employed in the field of education
  • Must be between 18 and 55 years old
  • Members will be required to submit a birth certificate or passport 
  • All loan repayments must be made by salary deduction
  • Loans are granted at three (3) or six (6) months intervals
  • The maximum repayment period is 60 months or 5 years.  This is determined by the members’ affordability and the discretion of the Customer Service Representatives (CSRs).
  • Upon applying for the loan, the member must produce their last two (2) months pay slips and a valid photo identification (Passport, Driver’s Licence or National ID). 
  • The member can borrow up to 10 times their account balances
  • Interest rate is calculated monthly on the reducing balance
  • If it is your first loan, a letter from your Principal is required stating tenure, and this should be done on the school’s letterhead, signed by the Principal and the school’s stamp affixed.
  • If it is not your first loan, your Principal will be called for verification of permanent employment.
  • Withdrawals will only be guaranteed in excess of your account balance, that is, your total loan balances must be 100% covered by your account balance.
  • Credit checks will be done at a cost to the member
Are you interested in learning more?

If you wish to speak to a BDO about your specific needs, please click on the button below to schedule an appointment.

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