PERSONAL ASSET ACQUISITION SCHEME

Your future self will thank you! Start acquiring assets and watch your dreams flourish!

The account under this scheme enables clients to purchase or acquire assets conveniently

Designed to facilitate acquisition of personal or consumer goods for individuals, peer and interest groups and organizations
In the case of Peer groups, PAACS is subject to a prescribed maximum ceiling per individual borrower and a maximum repayment period of six (6) months
A global lending ceiling is also prescribed for each Trade Group or Association.
PAACS is limited to a maximum ceiling of four (4) times applicant’s monthly contribution
Repayment of loan shall emanate from proceeds of daily contributions, salary or other stable sources of income
Access to PAACS is unlimited provided the existing facilities have been redeemed alongside all accrued interest charges
Each borrower shall execute an undertaking to abide with the terms and conditions prevailing under PAACS, failing which appropriate sanctions may be invoked
Where necessary, appropriate security may be sought to secure the loan
GTSL shall exercise Lien over the regular daily/monthly contributions during Loan tenor
Charge over the Personal Asset acquired
Personal Accident Insurance Policy over Borrower’s life & Fire Insurance Policy over Asset acquired with GTSL’s interest noted as Loss Payees/Beneficiaries.

Access to instant loan subject to specified ceiling and other specified terms & conditions
Easy and convenient access to obtain credit upon satisfaction of prescribed conditions
Competitive loan pricing and flexible repayment plan
No limit on the number of times to access facility provided existing loan is liquidated
PAACS also promotes cultivation of the savings culture.