Complete Re-Roofing Scheme

1. PURPOSE:

a) To assist eligible Seychellois citizens to completely re-roof an existing house where
they are residing. The loan is not for any other renovation purposes.
b) The house to be re-roofed should be in use for private residential purpose only.
c) Only one loan under this Scheme is allowed per household.

2. MAXIMUM LOAN AMOUNT: SCR150,000.00.

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

4. MAXIMUM LOAN REPAYMENT TERM: Maximum term of 5 years (60 months).

5. MAXIMUM NET SALARY:

a) Applicant(s) should be gainfully employed and earning less than SCR20,000.00 net per
month (proof is required).
b) In case of self-employed, proof of income will have to be provided, together with the
business registration certificate and license.

6. ELIGIBILITY: Applicant(s) must be over 18 years old.

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

8. SECURITY:
a) The loan is secured by a Guarantor who is gainfully employed.
Or
b) The loan is secured by placing a Restriction on the land where the re-roofing works
on the existing house is being undertaken, on condition that:
i. The applicant is the owner of the property;
ii. The applicant is in stable employment;
iii. The monthly loan repayment is done via salary deduction;
iv. The salary assignment is made in favour of HFCL.
c) If the applicant cannot provide sufficient proof of income, they will also need to
provide a co-applicant.

9. REQUIRED KYC DOCUMENTS: Required documents are ID card, latest payslip, bank statement
with 6 months’ transaction, quotation, proof of address and proof of income, if self-employed,
etc.
10. PROCESSING FEE: SCR1000.00 is payable by the applicant at the time of interview for the loan;
i.e. SCR500.00 for the processing of the loan and SCR500.00 as Visit Fee.