This type of loan is given to individuals employed in both the public sector and private sector. Through this package employees can easily obtain a loan greater than their monthly salary which they can use for purposes which require significantly greater amounts than the funds which are available to them at that instant.
Loan Benefits | Requirements | Price |
Low interest rates charged | Adequate collateral (value collateral must be at least three (3) times that of the loan requested | Interest rate |
Interest varies with loan repayment period | Guarantor should be the employer | LAF/I/V |
Maximum repayment period of six (6) months, Repayment can be done on weekly installments | Salary slip & Bank statement for the past six (6) months |
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