To be the most successful financial institution in Malawi with international visible presence.

Mission Statement

To provide the best financial services in Malawi and internationally, distinguished by outstanding service, product innovation and sustained earning.

Consumer Loans

Facility/Product and Purpose

  • Term Loan.
  • For  any legally accepted purposes.

Target Market

Salaried Account holders resident in Malawi including:

  • Non-Resident Malawians with Foreign Currency Denominated Accounts.
  • Foreign Nationals with Permanent Residence.
  • Professionals paid share of the firm's earnings monthly.

Repayment Period/ General Terms

  • Repayment - up to 36 months.
  • Can be extended to current, savings, deposits and special saver account holders provided accounts held for at least six months without a single dishonoured paper or unauthorized /excess overdraft.
  • No record of arrears in the past six months.
  • Accounts to record direct  regular salary /income  for at least 3 months
  • Credit life insurance arranged under Bancassurance Scheme.
  • If on contract maximum repayment period 2 months before expiry of contract.

Underwriting Requirements

  • Letter of Undertaking(LU) that is in line with the Bank's sample.
  • The LU must be from creditworthy employers whose overall profile especially financial standing and business continuity prospects are deemed fair risk. They should not be blacklisted for dishonoring prior LUs.
  • Undertake to send monthly earnings to applicant's Bank account until facility is repaid.
  • Be signed by authorised signatories and telephonically confirmed.
  • Confirm no similar undertaking made to other financial institutions.
  • Water/Electricity bills not more than 2 months old.
  • ADV 4 with full details of landed property, vehicles and other assets.
  • Copy of Employment contract if on contract.
  •  Repayment ability established/ascertained.

Maximum Amount/ Installments

  • Installment up to 30% of net pay
  • Risk grade score  below 30
  • Second loan while other one is running  only acceptable when 50% of  first one is repaid, if  both  will be within 30% of net pay and tangibly secured.

Security if required or LU not acceptable

  • Caution
  • Charge or Legal mortgage over property
  • Bill of sale over vehicle
  • Guarantee of Employer on form NBM SEC 15/15A
  • Treasury Bills
  • Cash
  • Credit Life insurance arranged under the Bancassurance Scheme.

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