At ABI Bank
Ltd, we
offer
a
variety of
credit
options
to
meet your
needs. Apply online today by
completing our
application
form. In two
business days, a
loans officer
will contact
you.
Use our loan
calculator;
it
will help you to
determine how
much you can
afford on a
loan.
We offer the
following loan
facilities:
CONSUMER LOANS
Granted to
individuals for
the purchase of
household items,
vehicles and
other personal
(non-business)
purposes.
Down
Payment:
20% minimum
Term:
5 years maximum
to repay
Interest
Rate:
13% per annum
interest on the
reducing balance
Security:
The
vehicle's
Bill of Sale
for the amount
of the loan
Comprehensive
insurance for
the value of the
vehicle
Charge over real
estate
Cash-secured
Loans
are granted
against
Deposit
Accounts held
with
ABI
Bank
Ltd.
or other
financial
institutions in
Antigua.
Term:
Negotiable
Interest
Rate:
Negotiable
REAL ESTATE
LOANS
(Top)
Granted to
individuals for
the purchase of
land,
acquisition of
property, house
purchase, home
construction and
home
improvement.
Mortgages:
Down
Payment:
20% minimum
Term:
25 years maximum
to repay for
residential
properties
Interest
Rate:
9 – 12.5% per
annum interest
on the reducing
balance
Security:
Homeowners
Insurance for
the duration of
the loan
Life insurance
for the duration
of the loan
Charge over the
property for the
amount of the
loan
Land Purchase
Loans:
Down
Payment:
10% minimum
Term:
10 years maximum
to repay
Interest
Rate:
12.5% per annum
interest on the
reducing balance
Security:
Charge over the
property for the
amount of the
loan
Life Insurance
for the duration
of the loan
Home
Improvements/Renovations:
Term:
10 years maximum
to repay
Interest
Rate:
9-12.5% per
annum interest
on the reducing
balance
Security:
Mortgage over
the property for
the amount of
the loan
Life insurance
for the duration
of the loan
STUDENT LOANS
(Top)
Granted to
individuals
pursuing a
course of study
with a
recognized
university,
college or
school.
Maximum
Loan:
EC$150,000.00
Term:
10 years maximum
to repay
Interest
Rate:
9% per annum
interest on the
reducing balance,
payable monthly
in arrears
during the
period of study
Security:
Charge over real
estate for the
value of the
loan
COMMERCIAL AND
INDUSTRIAL LOANS
(Top)
Loans and
overdrafts
granted to
businesses for
commercial,
industrial or
professional
purposes.
Down
Payment:
20% minimum
Term:
10 years maximum
to repay
Interest
Rates: 12 – 15%
interest per
annum on the
reducing balance
Requirements:
3 years audited
Financial
Statements
12 – 15 months
cash flow
projections
Board resolution
to borrow
Memorandum and
Articles of
Association
JUMP START LOANS
(Top)
Loans designed
especially for
vendors, micro
or small
businesses and
self-starters to
purchase stock.
Term:
10 years maximum
to repay
Interest
Rate:
11.5% per annum
on the reducing
balance
CONDITIONS:
(Top)
You will be
required to
submit:
Proof of income
(job letter,
financial
statements, bank
statements)
Invoice from
the prospective
vendor to
support cost of
items
Appraisal of
real estate
being offered as
security
Valid photo
identification
You will also be
required to meet
the following
expenses once
your loan
request is
approved:
Legal fees
including
Government stamp
duty
Bank
Negotiation Fees
PLEASE NOTE THAT
INTEREST RATES
AND CONDITIONS
ARE SUBJECT TO
CHANGE.
APPLICATION FORM
submit your
application on
line
LETTER OF SET
OFF FORM submit
for cash secured
loans
LOAN CALCULATOR
calculate your
loan payments
