Borrow Save Grow Loan (BSG)

Have you ever heard the saying "make your money work for you?". Well, TECU's BSG Loan helps you do just that!


Through the smart use of credit, this loan allows you to invest and save to achieve your financial goals.


Are you interested in saving to:


  • Invest?
  • Build generational wealth?
  • Create a nest egg for retirement?
  • Set and meet your savings goals for all aspects of your financial lifecycle?
  • Finance future needs including larger credit transactions such as a house or car for example?


If you answered, ‘yes’ to any of the above prompts, then BSG is for you!


This loan can be used for any expense or a savings goal. With BSG, you are able to simultaneously build credit and increase your shareholding whilst still saving. Additionally, your interest rate is in your hands. The more you save, the lower your interest rate!

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Interest Rate

Based on Savings Plan

Maximum Repayment Period

5 years

Loan Ceiling

There is no limit on the amount to be requested.

Loan Requirements

  • Two forms of valid ID
  • Utility Bill
  • Evidence of Income (Payslip- not older than 1 month  and  Job Letter- not older than 3 months)
  • Supporting document for the purpose of loan
  • Required share balance
  • Savings or retained shares must be a minimum of 25% of loan amount
  • D.S.R. should not exceed 45%

  • 100% of the sum borrowed must be saved for at least a year. 
  • 75% of the sum borrowed must be saved for at least a year. 
  • 50% of the sum borrowed must be saved for at least a year. 
  • 25% of the sum borrowed must be saved for at least a year. 
3 tiers of the BSG Plan

Loan Protection

TECU’s loans are fully insured by our Loan Protection plan. Upon death loans are insured as follows:

1-75 years$150,000.00
76-80 years$75,000.00
81-85 years$37,500.00
86 years and over$0.00

Call us today for up-to-date rates. Ask for a Loans Officer, who will be more than willing to assist you.

Ready to apply?

Apply for a Borrow Save Grow Loan (BSG) online.

Make an appointment with a Lending Specialist.

How much can I borrow?

With our borrowing power calculator, you can estimate how much you can borrow and what your repayments would be.

Note: Mobile and tablet users may experience minor usability issues with the calculators.

Helpful hints in securing a loan

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Build your borrowing capacity

TECU Credit Union partners with you to make achieving all of life’s goals a reality. Our character and other loans are assessed based on your ability to service a loan in addition to the following credit worthy aspects:
  • Present shareholding and frequency of contribution towards shares
  • Assets such as property, vehicles, savings at other financial institutions and Liabilities i.e. other loans/ debts
  • Employment status and history
  • Your Shareholding and share buildup within the credit union
  • Your Share to Loan Ratio, which is your total shares divided by the total loans that are currently outstanding (Shares/Loans)
  • Your existing loan balance and your indebtedness
  • Savings, Borrowing and Repayment History within the credit union
  • The primary purpose of the loan
  • Your age, current salary, employment status and duration of membership
  • The availability of adequate and marketable security and other assets
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