BNCTL
“BNCTL offers financial support to a public servants, employees of NGOs, agencies and private and public enterprises that require financing to build, repair houses, purchase vehicles, furniture, cover health treatment and education expenses and other consumptive needs.”
Personal Criteria:
1. Demonstrate good personal character, honesty, and accountability.
2. Have a permanent contract issued by an institution or employee.
Requirements:
1. Submit the loan proposal address to BNCTL, including the loan amount required and the utilization plan.
2. Permanent or contractually.
3. 1 Passport size color photo
4. 1 copy of the valid ID card of the applicant and guarantor.
5. 1 copy of the electoral ID of the applicant and spouse as applicable.
6. 1 copy of the electoral ID of a guarantor.
7. Fill out the BNCTL loan application.
8. Declaration Letter from Guarantor.
9. Letter of recommendation from employer.
10. Submit a transfer form for a new client.
11. Declaration of salary or asset ownership of applicant's spouse as applicable.
12. List of properties and cash flow.
Benefit:
The maximum loan amount is on salary bases and might access a new loan if the payment achieves 40% of the previous loan.
Term & Conditions:
LOAN AMOUNT: According to the applicant's salary and loan maturiy.
LOAN TERM: Maximum 20 years (240 months).
INTEREST RATE: 7.50% per year (effective rate based on the outstanding loan balance).
PENALTY: The penalty for late payment is 12% per year (1% per month of the principal loan).
GUARANTEED LOAN: The loan is guaranteed against salary and/or other properties.
PAYMENT TERM: Monthly installment (principal and interest).
OTHER FEES: Administrative fees and other costs according to the BNCTL price list. Require additional guarantee if the loan amount is greater than US$10,000.00.
Forms:
“Diversification of the multipurpose credit service, provided to contract and permanent employees with fixed salaries and regular payments (based on any contract) and who received their salary regularly to finance their urgent needs in a short space of time. This credit service is made to meet any urgent needs.”
Benefits:
To finance the client's urgent need in the short termTo finance the client's urgent need in the short term.
Personal Criteria:
Employee with a permanent contract or with a minimum of 6 (six) months contract, subject to renewal.
Requirements:
1. Loan/credit form (BNCTL will prepare).
2. Color photo to be taken at the Bank.
3. Copies of identity card: electoral card of the applicant and their spouse (if the applicant is married).
4. Copy of Bank Account details and the IBAN number (BNCTL will prepare).
5. Employment contract from an employer.
6. Cash Flow projection (BNCTL will prepare).
7. Guarantee: Applicant's salary and credit security.
Terms & Conditions:
Loan amount: A maximum of USD 20,000.00.
Duration/maturity period: A maximum of 24 months/two years.
Refund: Principal and loan interest monthly.
Type: Non-revolving.
Guarantee: Applicant's salary and credit security.
Interest rate: 7.50% p.a.
Administrative costs: 1% of the credit limit.
Processing costs: 1% of the credit limit.
Penalty: 12% p.a.
Forms:
“This credited service aimed at attending to the needs of the veterans who are entitled to the veteran pension.”
Personal Criteria:
1. Veterans who are entitled to a pension from the Timor-Leste government.
2. Veterans who have no obligation.
Requirements:
1. Credit Form (BNCTL will prepare).
2. A color photo can be taken at the Bank.
3. Copy of electoral card for applicant and spouse (if married).
4. Copy of applicant's Bank Account details.
5. Copy of the record and the database form for the pension.
6. Statement from another heir (applicable for multi-heir).
7. Statement Letter from the Tribute Commission.
8. Cash Flow Projection (BNCTL will prepare).
9. Guarantees are veteran pension and credit insurance.
Benefits:
Support and empower the economic needs of the veterans and their families.
Term & Conditions:
The maximum credit amount: is USD 25,000.00.
Consumptive: Objective.
The maximum duration: is 5 (five) years.
Reimbursement of credit's principal amount and interest: is to be done monthly.
Guarantees: are veteran pension and credit insurance.
The interest rate: is 7.50% per annum.
The administrative fee: is 1% of the credit limit.
The processing fee is: 1% of the credit limit.
The penalty is: 12% per annum.
Forms:
“Pensioner Credit, is a loan granted specifically to public/private employees who are retired or retired with monetary pension rights from any public or private and non-governmental entities with their pensions transferred directly and received from a dedicated account in BNCTL.”
Terms & Conditions:
Credit amount/ceiling: ≥ 2,000.00 and ≤ 20,000.00 USD.
Credit period: 5 years.
Pension Credit is applied regularly from age: 60 and above or considered retirement age.
Maximum credit portion: 50% of monthly pension.
Processing Fee: 1% of the credit amount.
Credit interest rate: 7.50% per annum.
Administration fee: 1% of the credit amount.
Additional guarantees: pension subsidies and guarantors
Requirements:
1. Completely fill out the credit form.
2. Photocopy of proposer Voter card, BI card, Passport (Husband/Wife).
3. One sheet of 3 X 4 color photograph.
4. Copy of retirement certificate or retirement document relevant entity.
5. Letter of recommendation or evidence of pension entitlement from the workplace and INSS.
6. Pension must be transferred and paid through the pensioner's account at BNCTL
Forms:
RBL credit, is a loan facility that BNCTL offers especially to Timorese in some seas. With the objective that the loan facility for RBL can raise social condition and the economy of families living abroad as well as in the country.
Advantages of RBL Credit:
RBL credit can be advantageous especially for Timorese who are currently working or migrating to foreign country, as follows:
1. Provide access to funding for Timorese living abroad to finance their daily needs;
2. The credit is accessible at a cost cheap;
3. Can apply online;
4. Long-term credit;
Total funds available to RBL: USD 10,000,000.00 (outstanding loan), for 2 years. When exhausted will be reviewed to consider expansion.
RBL credit terms and conditions:
1. Applicable to Timorese women/men with maximum age 60 years;
2. Maximum credit duration 10 years;
3. Credit interest 6%pa;
4. Maximum credit ratio 50% of take home pay;
5. Administration and process costs for credit, applied according to the applicable list of requirements;
6. Sources of credit payments come from remittance through BNCTL, and must maintain a minimum balance may be covered or equivalent to payment
three-month bond.
7. Monthly collection period for principal and interest;
8. Collection period by maturity credit.
Credit requirements:
1. Photocopy of Electoral card (compulsory), BI card, Passport of the proposer and spouse:
2. Current electronic photography;
3. Credit proposal directed to email officer to be created by BNCTL bank;
4. Employment contract of the company which will be valid with Payslip or P60 (continental Europe);
5. Passport and Overseas work visa which would be valid as:
a. Timorese passport, Portuguese passport or Other valid passport
b. Immigration Status (Pre-settled & Full settled status to continental Europe)
c. Valid Work Visa or Visa (apply other foreign country)
6. Bank Statement (bank statement) foreign bank minimum last 3 months;
7. Letter of recommendation from the Head Timor-Leste community in the UK; for other countries will be considered on a case-by-case basis;
8. Made remittances to BNCTL account minimum 3 months;
9. Must maintain a minimum balance can covers or equivalent to three months’ bond payments.
(Captive letter of authorization and move account to pay his obligation)
10. Guarantee:
✓ Principal - Remittances and object banked finance;
✓ Additional when required by bank - Guarantor or Wealth (real estate) or cash collateral.