1. PURPOSE:
a) Home Improvement Loan:
i. To assist eligible Seychellois Home Carers to (i) conduct minor renovations of
an existing house where they are residing; (ii) carry out landscaping works;
(iii) do site clearing works, such as rock blasting etc;
ii. The loan is not for the purchase of household items;
b) Complete Re-Roofing Loan:
i. To assist eligible Seychellois Home Carers to completely re-roof an existing
house where they are residing. The loan is not for any other renovation
purposes.
c) The house to be renovated or re-roofed should be in use for private residential
purpose only;
d) Only one Home Improvement Loan and/or Complete Re-Roofing Loan is allowed per
household under this Scheme.
2. MAXIMUM LOAN AMOUNT:
a) Home Improvement Loan: SCR50,000.00.
b) Complete Re-roofing Loan: SCR150,000.00.
3. INTEREST RATE: 10% interest (variable) on the full amount of the loan.
4. MAXIMUM LOAN REPAYMENT TERM:
a) Home Improvement Loan: Maximum term of 5 years (60 months);
b) Complete Re-roofing Loan: Maximum term of 7 years (84 months).
5. ELLIGBILITY:
a) Applicant(s) must be over 18 years old and registered as a Home Carer at the
Seychelles Home Care Agency.
b) Applicants must be in receipt of a monthly salary from the Seychelles Home Care
Agency.
6. LOAN DISBURSEMENT: The loan is disbursed by instalments upon HFC’s Building Inspector’s
certification.
7. SECURITY: The loan is secured by a Guarantor who is gainfully employed.
8. REQUIRED KYC DOCUMENTS: Required documents are proof of ID card, confirmation letter
of monthly salary from the Seychelles Home Care Agency, proof of address, bank statement
with 6 months’ transaction, etc.
9. PROCESSING FEE:
c) Home Improvement Loan:
i. For a loan of SCR25,000.00 – SCR450.00 is payable by the applicant at the
time of interview for the loan, which includes SCR150.00 for the processing
of the loan and SCR300.00 as Visit Fee.
ii. For a loan of SCR50,000.00 – SCR550.00 is payable by the applicant at the
time of interview for the loan, which includes SCR250.00 for the processing
of the loan and SCR300.00 as Visit Fee.
d) Complete Re-Roofing Loan: SCR1000.00, being SCR500.00 for the processing of the
loan and SCR500.00 as Visit Fee.