- Nationals or permanent residents of Trinidad & Tobago
- Existing and new members
- Permanent employees and self-employed
- Members in good standing
The Swift loan is unavailable at this time.
THE SWIFT LOAN is a facility our members can access quickly if they have experienced loss of income and/or earnings due to the ongoing COVID-19 pandemic.
Here’s what you need to know:
WHO CAN APPLY?
WHAT ARE THE REQUIREMENTS TO APPLY?
Requirements:
- Existing members:
- Recent Pay slip (current month),
- Utility bill,
- Two forms of valid IDs
- New Members:
- Completed Membership form
- Current job letter,
- Recent pay slip (current month),
- Utility bill.
- Two forms of valid IDs
- Self Employed:
- 6-12 months financial statement (Audited preferable)
- Bank statement
- Business Registration
- Other documents or information otherwise requested by the Credit Officer
HOW CAN I APPLY FOR A SWIFT LOAN?
There are three ways members can apply:
- Apply online
- Complete and sign the loan application form and submit via email: loans.promotion@pscutt.com
- Dropoff the completed and signed loan application in-branch (via the dropbox)
CAN I SUBMIT ALL REQUIRED DOCUMENTS VIA EMAIL?
Yes! You can send all required documents to: loans.promotion@pscutt.com
HOW MUCH CAN I BORROW?
You can borrow a minimum of $2500.00 and a maximum of $5,000.00.
Only for the month of October 2021, we have increased the maximum borrowing limit to $7500.00
DO I HAVE TO PAY ANY LOAN FEES? OR ARE THERE ANY LOAN OR PROCESSING FEES?
Yes. You will have to pay a loan fee of $100.00.
WHAT IS THE INTEREST RATE ON THIS LOAN?
The interest rate is 0.75% per month.
HOW LONG WILL THE CREDIT UNION TAKE TO PROCESS THE SWIFT LOAN?
Once all required documents are submitted, the loan will be processed within 24 hours.
WHAT IS THE REPAYMENT PERIOD?
Maximum 24 months.
WHEN WILL THIS PROMOTION EXPIRE?
This promotion is valid until 30th September, 2021
Due to an increase demand for this loan, we have extended this offer until 31st December, 2021
DO I HAVE TO MAKE A DEPOSIT TO ACQUIRE SWIFT LOAN?
No, you do not have to make a deposit to apply for the Swift Loan.