CalBank Church Scheme
This scheme is a unique facility designed to address peculiar needs of well-established churches. The purpose of the facility is solely for the completion of church projects or acquisition of church instruments and other assets. As part of this service, there will be weekly Cash Pick Up services to be paid into their account.
Benefits of the CalBank Church scheme are:
- Opportunity to ease working capital in running the operations of the church.
- Guaranteed flexible terms of repayment.
- Readily available credit within timely periods.
- Prompt and special attention from a dedicated account relationship manager.
- Clients shall be updated on monthly loan repayment via CalBank Alert.
- The church must operate an account with CalBank.
The church must be registered, have a constitution and mandated to borrow.
- An introductory letter is required from the church or mother church (If applicable) authorizing it to borrow.
- The church building or any other acceptable building can be used as a security.
- Other relevant CalBank credit requirement may be needed.
- Monthly purchase of CIP depending on the amount granted.