Back-to-Back Loans

This financial product is an effective means to use your funds for the projects you want to invest in while reducing risk by not having to pledge assets that are not already with the bank.

Whether the funds are to be used as start up capital for your new business venture or for the purchase of fixed assets Back-to-Back loan options meet everyone’s situation.

To be eligible for a Back-to-Back loan you must:

• Be an existing Customer.
• Have a term deposit account with a minimum of USD10,000.00 (or the equivalent in another currency).
• The Back-to-Back loan is for 98% of the term deposit amount.
• The processing fee for a Back-to-Back loan is 0.01% of the amount borrowed.
• Request the Back-to-Back loan via the iBank.
• Griffon Bank lends at a rate 0.5% above the rate of interest received on the term deposit account.