DESTINI Annual Report 2020

23. Bank Borrowings (Cont’d) Term loan IX The term loan with fixed interest rate of 3.50% to 5.00% per annum. The loan is repayable in 60 monthly installment and fully repaid in 2025. The loan is secured by: (a) Corporate guarantee by holding company; (b) Charge on all sums in current account; (c) Charge over receivables; and (d) Personal guarantee by a Director. Bank overdraft Bank overdraft is secured by the following: (a) Fixed deposit pledged to licensed banks; and (b) Jointly and severally guarantee by certain Directors. Range of interest rates during the current and prior financial year is as follows: Group Company 2020 2019 2020 2019 % % % % Bank overdrafts 5.10-8.25 5.10-8.25 - - Term loans 3.50-12.90 5.00-12.90 6.95 6.95 Maturity of bank borrowing is as follows: Group Company 2020 2019 2020 2019 RM RM RM RM Within one year 85,129,813 104,575,429 4,377,355 15,984,411 Between one to two years 11,648,994 10,173,259 11,778,824 8,562,088 Between two to five years 8,441,254 - - - More than five years 50,850 - - - 105,270,911 114,748,688 16,156,179 24,546,499 ANNUAL REPORT 2020 DESTINI BERHAD Notes to Financial Statements 158