Salary Loans

Salaried Workers Loan

  • Loans to salaried workers shall be granted where the employee collects his/her salary through the Bank.
  • Employee is to operate with the Bank for at least three (3) months to qualify for salaried worker’s loan.
  • Employer shall undertake to pay employee’s salaries direct to the Bank while he/she remains in employment.
  • At least two (2) salaried workers who collect their salaries through the Bank shall guarantee the loan.
  • Loan shall be repaid on monthly installment basis and shall not exceed thirty-six (36) months.
  • An interest per annum shall be charged on straight line method