AMENDMENTS IN LOAN POLICY

AMENDMENTS IN LOAN POLICY

Kindly take note of the following critical information:

  1. PERSONAL/PAYROLL LOANS
    • All Payroll/Personal loans shall be disbursed between the 25th day of the current month
      and the 5th day of the new month.
    • Where a customer insists on a date earlier than the above window, request will be
      reviewed by management and decision communicated to client.
  2. GROUP LOANS
    • Minimum number of members in a group shall be four (4).
    • Maximum loan tenure continues to be 3 months.
  3. Next of Kin provided by an applicant should be 18 years or above and should have an
    active phone number.
  4. Restructuring shall be done at a fee of 2% at the prevailing interest rate and shall not
    exceed 3 months.

 

Kindly note that the above circular takes effect immediately. For questions and concerns, you may
reach us via phone or email.

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