Employer Guaranteed Loans

Service/Product Target (Who Is The User In Mind)

Designed to assist high net worth corporate customers to avail their employees with loans via the Bank

Product Attributes/ Features: How Does The Product Work?

• Min – MK100,000
• Max – Determined by the employer and Bank
• Repayment amount not to exceed 30% of salary
• Maximum repayment period of 36months
• Employer to provide a guarantee
• Accessible by NBM and non NBM account holders because employer deducts loan repayments at source.
• Interest rate is lower than ordinary consumer loans
• Processing is faster
• Can be repaid before expiry at no cost

Costs To Access The Product minimum at (RBM reference rate +9% pa)

• Processing fees apply

How To Access Product

• Available to NBM account & non NBM account holders in
• Fill a credit application form
• Submit latest payslip
• Submit sketch map
• Customer ID
• Submit letter of introduction from employer.
• Utility bill

Terms and Conditions

• Employer to provide for monthly repayments.
• Guarantee By Employer in format approved by the Bank