Lilongwe 07:30 – 16:30 4295
MICRO INSURANCE LOANS

To cushion the institution against loss of funds from death or loss of property that is used for generating income

MICRO INSURANCE LOANS

Individual Loan

Rate: interest 4.5% pm 3.5% processing fees life insurance 1.5%%

Target Market

Existing borrowers with assets to be insured. New clients whose assets are going to be used for securing loans.

Tenure

3 months – 12 monthsNO Grace Period is Applicable

Thresholds

Minimum K100,000 – Maximum K30,000,000

Objectives
  • To cushion the institution against loss of funds from death or loss of property that is used for generating income
Benefits
Requirements
  • National ID
  • Identification letter from Village Head or local leader in an urban location
  • Proof of ownership of property to be insured. Registration documents.
  • Quotation from an Insurance company.
  • Sketch Map to residence/business.
Collateral
  • Endorsement of NEEF as title holder of collateral item being insured if applicable.
  • Charge over landed property
  • Sworn affidavit over unregistered landed property.
  • Note of NEEF’s interest on the Insurance Policy.
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