Loans for employees of both public and private institutions who have opened a salary account with the bank and receiving their salaries through the bank for at least three months. It also includes pensioners who receive a regular pension gratuity through the bank.
Features
- It is targeted at employees of government and private institutions who have opened a salary account and have received salary for not less than 3 months
- Term of up to 36 months
- Debt Service Ratio of 50% maximum of salary
- Other conditions attached to the loan are as stipulated in the Credit Policy of the bank
Requirements
- Should have opened a salary account and have received salary for not less than three months
- Must be a confirmed staff of the institution
- Ghana Card and Staff ID of the Applicant
- Pay slip of the last 3 months
- Letter of consent by Employer
- 2 guarantors are required
- Security may be required
Benefits of the Product to the Customer
- Hussle free loan within 24 hours
- Competitive interest rates
- The flexibility of contracting short term seasonal loans even though the customer has a loan running.
- Customers receive a lumpsum of money upfront, allowing them to pay back over fixed term
- Interest rate and principal repayments are always fixed which helps in budgeting
- Top up of facility is available
MRB Financial Products
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