Personal Finance Requirements

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Individual Loans

Vehicle Loans- Personal (Required documents)

  • Recent Job Letter
  • Two Months Pay Slips (Monthly = 2; Bi-Mthly = 4 & Weekly =8)
  • Two Forms of Valid  Barbados ID (Barbados Identification Card, Passport or Driver's License)
    • Valid Driver's License
  • Proof of Home Address (No older than 3 mths & must be either a Bank Statement, Credit Card Statement or Utility Bill in the person's name)
  • Statements for all Saving Accounts held under their name with the Bank/Credit Union
  • Statements for all outstanding Liabilities - (HP A/C, Loans, Credit Cards)
  • Pro-Forma Invoice (If New Vehicle)
  • Letter of Sale (If used)
  • Valuation of Vehicle (If Used)


Personal Loan (Required documents)

  • Recent Job Letter
  • Two Months Pay Slips (Monthly = 2; Bi-Mthly = 4 & Weekly =8) 
  • Two Forms of Valid  Barbados ID (Barbados Identification Card, Passport or Driver's License)
  • Proof of Home Address (No older than 3 mths & must be either a Bank Statement, Credit Card Statement or Utility Bill in the person's name)
  • Statements for all Saving Accounts held under their name with the Bank/Credit Union 
  • Statements for all outstanding Liabilities - (HP A/C, Loans, Credit Cards)
  • Statements or Letters from Creditors of Bills to be cleared (if Debt Consolidation)
  • Quote for purchase or repairs (Alternative Energy, Car Repairs, Home Repairs)
  • Proof of what proceeds of loan is being used for (Travel, Education, Back to School Expenses & Personal Expenses)
  • The employer must be willing to do salary deductions (unsecured only)

Accepted Security

  • Cash held on fixed deposit with SigniaGlobe    
  • Cash surrender value on life insurance (i.e. Sagicor)
  • Property or a motor vehicle (with or without any outstanding loans)
  • Mutual Funds
  • Shares on the Barbados Stock Exchange 

Mortgages (Required documents)

  • Recent Job Letter
  • Two Months Pay Slips (Monthly = 2; Bi-Mthly = 4 & Weekly =8)
  • Two Forms of Valid  Barbados ID (Barbados Identification Card, Passport or Driver's License)
  • Proof of Home Address (No older than 3 mths & must be either a Bank Statement, Credit Card Statement or Utility Bill in the person's name)
  • Statements for all Saving Accounts held under their name with the Bank/Credit Union
  • Statements for all outstanding Liabilities - (HP A/C, Loans, Credit Cards)
  • Letter of Sale/Purchase Agreement of Property to Purchase
  • Valuation of Property to Purchase
  • Land Tax Valuation & Receipt for Payment (If using Property as Security for Loan)
  • Land Tax Clearance Certificate (If using Property as Security for Loan)
  • Recent Water Bill (If using Property as Security for Loan)
  • Title Documents (If using Property as Security for Loan)

Micro and Small Business/Sole Proprietorship/Trading As Loans

Personal Loan (Required documents)

  • Certificate of Registration of Business Name
  • Registration Application Approved by CAIPO
  • Bank Statements for the Past Year
  • Proof of Home Address all Registrants (No older than 3 mths & must be either a Bank Statement, Credit Card Statement or Utility Bill in the person's name)
  • Two Forms of Valid Barbados ID (Barbados Identification Card, Passport or Driver's License)
  • Statements or Letters from Creditors of Bills to be cleared (if Debt Consolidation)
  • Quote for purchase or repairs (Alternative Energy, Car Repairs, Home Repairs)
  • Proof of what proceeds of loan is being used for (Business Investment, Travel, Education, or Personal Expenses)

Accepted Security

  • Cash held on fixed deposit with SigniaGlobe
  • Cash surrender value on life insurance (i.e. Sagicor)
  • Property or a motor vehicle (with or without any outstanding loans)
  • Mutual Funds
  • Shares on the Barbados Stock Exchange

Vehicle Loan (Required documents)

  • Certificate of Registration of Business Name
  • Registration Application Approved by CAIPO
  • Bank Statements for the Past Year
  • Proof of Home Address all Registrants (No older than 3 mths & must be either a Bank Statement, Credit Card Statement or Utility Bill in the person's name)
  • Two Forms of Valid Barbados ID (Barbados Identification Card, Passport or Driver's License)
    • Valid Driver's License
  • Pro-Forma Invoice (If New Vehicle)
  • Letter of Sale (If used)
  • Valuation of Vehicle (If Used)

Mortage Loan (Required documents)

  • Certificate of Registration of Business Name
  • Registration Application Approved by CAIPO
  • Bank Statements for the Past Year
  • Proof of Home Address all Registrants (No older than 3 mths & must be either a Bank Statement, Credit Card Statement or Utility Bill in the person's name)
  • Two Forms of Valid Barbados ID (Barbados Identification Card, Passport or Driver's License)
  • Letter of Sale/Purchase Agreement of Property to Purchase
  • Valuation of Property to be Purchased
  • Land Tax Valuation & Receipt for Pymt (If using Property as Security for Loan)
  • Land Tax Clearance Certificate (If using Property as Security for Loan)
  • Recent Water Bill (If using Property as Security for Loan)
  • Title Documents (If using Property as Security for Loan)

 

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