These are overdraft loans given to BancABC existing clients to clear any emergency
uprising in a given period of 1 month according to the pay date.
Conditions include:
- Repayment period 1 month
- Interest rate 25% per month
- Insurance fees 4% of the loan amount
- Quantum of loan (Max) 40% of Net Salary excluding non-recurrent allowances
- Turnaround time 48 hours
- Disbursement channel bank account transfers
The Requirements are as follows:
- One copy of national ID
- Next of Kin ID
- Currents payslip and proof of employment