RBTT BANK Barbados Limited has launched what it calls "a revolutionary loan product" in Barbados called the "High-5 Loan", which allows clients to borrow up to five times their monthly salary, to a maximum of $50 000 for any purpose.

According to Frank Drakes, RBTT's manager of marketing and customer service, the High-5 loan will give more Barbadians the opportunity to borrow since loan qualification is linked to one's regular monthly salary and not to a minimum monthly income normally stipulated by most commercial lenders.

"Hopefully, individuals will take this opportunity to borrow prudently to secure their homes as we enter what promises to be a very active hurricane season, as well as for the other traditional reasons such as home renovation, education, travel and more," stated Drakes.

He also noted that RBTT had incorporated many of the bank's most attractive terms into the High-5 loan – including no down payment, no loan payments for up to 100 days, the handy RBTT "Investment Option" which allows borrowers to place a portion of their loan in a fixed deposit for future use, and automatic approval of an RBTT MasterCard with every approved loan.

The RBTT "High-5 Loan" campaign will coincide with the Bank's sponsorship of RBTT Pan In De City, the second annual steelpan parade and concert to climax in Heroes' Square, Bridgetown, on Saturday, July 21. (PR)