PERSONAL LOAN: WHO QUALIFIES FOR IT

This product enables  people meet urgent personal financial obligations  such as rents, school fees, vector  expenses , medical bills as well as  insurance loans

–           Salary farmers whose salary accounts must be domiciled with the bank 

–          Customer whose salary  account are not domiciled in the bank must have their salary accounts moved to us  must be confirmed staff

–          Salary account must have  ran for at least  6 months  

WHAT  SECURITY IS REQUIRED FOR THIS LOANS

–           Salary  domiciliation

–          Personal  guarantee /employer status inquiry from  the current place of work 

–          Post dated  cheques

WHEN DOES THE LOAN TERMINATE

The  loan has a maximum tenor of  12 months repayment shall be monthly   and will be into the  salary account of the obligor 

WHAT ARE THE CHECKLIST FOR SALARY ACCOUNT HOLDERS?

This means that before the loan can be granted,   the following must be obtained

Complete tran application from  (To be  completed by the applicant)

–           Duly executed letter of salary domiciliation

–          Evidence of annual  congrensation package

–          Attach 6 months  pay slip and six (6) month statement of account  

–          Executed letter of authority to   the bank  to debit customers account for the loan month   repayments

–          Duly   executed offer letter

WHAT DOES THE BRANCH ENJOY

–          Multiple   income streams float income, fees and conton accounts

–          Opportunity to sell other products of the bank

Account conversion of aspiring customer and increase