Lending
Bank of St. Helena can offer loans to individuals, businesses and other organisations, for a variety of purposes.
Before applying for a loan:Read the bank's Terms and Conditions for Lending Please make sure you will be able to afford it. |
Skip to: Types of Loan Rates of Interest Repayments Information Required Who to Contact Loans to Non-Saints Unsuccessful Applications Difficulties
Types of Loan
The bank currently offers the following types of loan:
Housing Loans: | Loans for the purchase or improvement of land and buildings |
|---|---|
Vehicle Loans: | Loans for the purchase of a vehicle |
Boat Loans: | Loans for the purchase of a boat |
Other Loans: | Loans for all other purposes |
All of the above are available to all customers, subject to status.
In addition the bank can currently offer Overdrafts, to business customers only.
Rates of Interest
All interest rates are variable and can change without notice. The Rate of Interest on your loan will depend on:
Whether you are a business or other borrower.
Whether your loan is secured or unsecured.
Please see our Rates page for our current interest rates.
To check the affordability of your loan you can download our Loan Calculator from the Documents section. This will help you estimate your monthly repayments.
Repayments
Repayments are debited automatically each month from your nominated Current Account. You must ensure that the account has sufficient funds each month to enable the repayment to be taken.
Repayments can only be made from a Current Account.
Information Required
When applying for a loan you will be asked to provide information about your income and expenditure. Precisely what information will be required depends on the type of loan. Please examine the loan application forms and the Terms and Conditions for Lending, available in our Documents section.
All information supplied will be held in the strictest confidence. The bank will not share this information with any other bodies or persons.
Please note that by applying for a loan you authorise the Bank may take whatever steps it considers necessary to satisfy itself as to your creditworthiness.
Who To Contact
Customers seeking a business loan or overdraft should contact the Commercial Lending Manager. A business loan can be for any type of business, including sole-traders.
Other customers should contact the Personal Lending Manager.
Please see our Documents page for information about loans, including our Lending Terms and Conditions and the appropriate application forms.
Loans to Non-Saints
In general Bank of St. Helena can only offer loans to 'Saints' (the people of St. Helena and its dependent territories) and those with a "Clear St. Helena Connection". This is explained further in the Terms and Conditions for Lending.
However, please note that the bank can offer loans to anyone owning, or for the purpose of purchasing, property on St. Helena, subject to status.
If you unsure of your status please contact us.
Unsuccessful Applications
Not all loan applications are successful. A loan application may be declined for a variety of reasons, and the bank reserves the right to refuse to approve loans at its sole discretion, without the requirement to provide a reason for so doing.
However, the most common reasons for a loan being refused are:
The applicant has insufficient net income to afford the loan.
The applicant cannot provide adequate security for the loan.
The applicant has recently failed to repay other loans known to the bank.
Difficulties
If you experience any difficulties making your loan application please contact the bank's Lending team who will be able to help.
If you have any complaints regarding the bank's lending activities you should, in the first instance, contact the bank's Lending team. If you are still not satisifed please contact the Manager.
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