Revolving Term Loan
A Revolving term loan is a facility which allows one to access the repaid amount after a period of 6 months and 3 months for Achiever and Executive banking customers respectively. This is a personal loan and the applicant is free to use the proceeds of the loan for whatever personal use.
What does it offer me?
- Monthly net salary
- Gross salary X 2.5
- Minimum MWK220, 000 and maximum MWK1, 000, 000
- Repayment is maximum of 36 months
- Loan protection for death and disability
- Revolving facility after 6 months for medium salaried (Achiever) and 3 months for upper salaried (Executive)
How to apply?
Salaried employees with net monthly income of between MWK 60, 000 and MWK 670, 000
- Letter of undertaking from employer
- Latest payslip
- Valid identity
- Proof of residence
Filled revolving term application loan
- An active Standard Bank transaction account
- Monthly salary to be deposited in transaction account