Lilongwe 07:30 – 16:30 4295
INTERNATIONAL NGO EMPLOYEES LOAN (INGO)

Contribute to socio-economic development. Promote job creation. Entrench entrepreneurship spirit

INTERNATIONAL NGO EMPLOYEES LOAN (INGO)

Individual Loan

Rate: Interest- 4.5% pm Processing & Admin fee- 5% Insurance- 1.5% Collateral Insurance - TBA%

Target Market

INGO employees who want to venture into or are already in business. Their loan contract or the remaining part thereof cannot be less than the loan term proposed.

Tenure

12 months(Subject to three months cushion before Contract Expiry) No Grace period is applicable

Thresholds

Minimum K500,000 to Maximum of applicant’s repayment capacity.

Objectives
  • Contribute to socio-economic development.
  • Promote job creation.
  • Entrench entrepreneurship spirit
Benefits
Requirements
  • National ID
  • Recent colour passport-size photo
  • Bank statement for salary account (3 months)
  • Letter from employer confirming employment status.
  • Copy of Employment Contract
  • Three most recent pay slips.
  • Personal Guarantor Physical Collateral where appropriate
  • Sketch Map to residence
  • Copy of Bank certified Standing Order/Debit Order Instruction.
Collateral
  • Job contract from their organization
  • Land (Registered and Unregistered Land)
  • Vehicles
  • Woodlot/Orchard
  • Plant and Equipment
  • Household Chattels
  • Furniture, Fixtures and fittings
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