Can I Re-Avail of a Loan?

Written By Security Bank ()

Updated at September 8th, 2020

Yes, you can re-avail a loan as long as half of the balance of the original loan term has been paid, and there has been no record of missed payments.

Example: Original loan term is for 12 months and amortizations have been paid for 6 months already, you can apply for re-availment. Upon booking, the previous loan balance will be deducted from the proceeds of the new loan.