Rates of Interest

All interest rates are variable and can change without notice. The rate of interest on your loan will depend on:

• Whether your loan is secured or unsecured
• The amount applied for
• The repayment period

Repayments

Repayments are debited automatically each month from your nominated Bank of St Helena current account. You must ensure that the account has sufficient funds each month to cover your monthly repayment. Repayments can only be made from the nominated current account with Bank of St Helena and no other account.

Bank of St Helena will consider shorter repayment periods at the customer’s request; based upon calculated affordable repayments. Applicants should also note that repayments must be made before completion of full time employment. 

Information Required

When you apply for a loan you will be asked to provide information about your income and expenditure. All information supplied will be held in strictest confidence. Please note that by applying for a loan, you authorise the Bank to take whatever steps it considers necessary to satisfy itself as to your creditworthiness. 

Who is eligible for a loan with us?

• Has St Helenian Status by right of birth or descent.
• Is a close or dependent relative or the life partner of someone who has St Helenian Status by right of birth or descent.
• Is currently in full time employment or, if working under a contract of employment, is able to repay the loan in full prior to the contract expiring.
• Has a current account with Bank of St Helena Ltd.

Rates of Interest

All interest rates are variable and can change without notice. The Rate of Interest on your loan will depend on:

• Whether your loan is secured or unsecured
• Amount applied for
• Repayment period

Repayments

Repayments are debited automatically each month from your Bank of St Helena Business Account. You must ensure that the account has sufficient funds each month to cover your monthly repayment.

Eligibility

• The applicant is currently operating, or plans to operate, a business on St Helena.
• The Organisation is registered by the Companies Registrar of St Helena, where it’s legal form is that of a company.
• The Organisation is a St. Helena-based voluntary organisation (e.g.clubs, societies and charities) whose legislation/ordinance allows it to borrow money from the Bank.
• The Organisation is registered with the Commissioner of Income Tax.
• The Organisation has a Business Current Account with Bank of St. Helena Ltd.