It is a short term loan that is aimed at covering emergencies and unexpected financial requirements e.g Car repairs, once off high utility bills, funeral costs, hospital bill and any other emergencies that may arise. The minimum loan amount is K50,000.00 and the maximum is K3 000 000.00
What does it Offer?
- Customer to get up to 40% of disposable net monthly salary (after all existing monthly loan deductions and commitments).
- Flat fee of 4% per month charged once on origination, min K 10 000.00 ( no further fees or interest shall apply) except if loan falls into arrears where a penalty fee of 3% will be charged on total payable amount
- Customers can access this facility up to 4 times a year ( once every quarter)
- No insurance on the loan
Who can Apply
Currently the loan I available to Private Banking, Executive Banking and Achiever Banking customers (minimum net Salary K250,000.00)
What do I need to apply?
3 months Bank statement (new customers)
Letter for undertaking ( achiever Banking customers only)