Salary Loans
Targeted Clients:
Employee based Microfinance institutions with reliable and stable repayment sources from reputable employer.
Product Benefits:
- Hefty Loan amount: loan amount depends on member’s ability to repay the loan without violating labour law and MFI’s credit policy.
- Fixed repayment instalment: Repayment through fixed monthly instalments from salary deductions:
- Competitive Interest rates: Interest rate on salary loan is affordable and competitive
- Availability of Grace Period: Grace period will be applicable where necessary.
- Longer repayment period: Borrower can choose a repayment period of up to five years.
- Easy Security requirements: The loan is secured by employer’s guarantee.
Eligibility Criteria:
Bank affiliate MFI with employer’s guarantee to secure loans sourced by his/her employees.
For more information, contact a nearest CRDB Bank branch
Last Updated: Tuesday, 01 June, 2010