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Sat-Sun:  Closed
Public Holiday: Closed
+688 20698
20693, 20853
P O Box 51,
Vaiaku, Funafuti

Small Loan Scheme

Who is Eligible to make a Loan?

Any member is eligible to apply and take a loan under this scheme if he is a current or active contributing member with a credit balance in his retirement account that is equal or more than four hundred dollars (AUD$400.00).

How much can I borrow? 

A member who is eligible to take a loan may apply and obtain a loan from the Fund in which the total amount shall not exceed 30% of his total retirement account balance on the date the application is made.

A Member is not eligible to make a loan if he/she

  1. has arrears on any existing loan made under this scheme that is greater than 3 months during the last 12 months; or
  2. Is below the age of 45 years and is unemployed at the time of making the loan application; or
  3. Is employed outside of Tuvalu, either through a recruiting Agent or through private arrangement with an external employer, unless he has proof (e.g. family allotment breakdown issued by the bank) that part of his wages is allotted back to Tuvalu; such confirmation may be produced by his employer or a bank operating in Tuvalu; or
  4. Is employed and is not prepared to make loan repayments directly out of his own pay; or
  5. has withdrawn a portion of his retirement funds by way of emigration benefit and have continuously reside and work outside Tuvalu; or
  6. has a bad loan that he has defaulted in repaying and such bad loan has been cleared from his retirement account; or
  7. has committed more than 40% of his net pay to his current or existing loans.

Other Policies

  1. The Minimum Loan amount is $100
  2. Term – all loans approved under this scheme shall be repaid within any term that does not exceed ten (10) years.. If the period between a member's age on the date of application for a loan with the compulsory retirement age, which is fifty five (55), is less than ten years, that period shall be automatically become the maximum term of the loan.
  3. Commitment Level – Not more than 40% of a members net pay to his current or existing loans.
We provide a secure future for our members and their dependents.


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