PAYROLL LOAN
This loan module is suitable for salary earners (not neccesarily public servant).
Below are the requirement to access this loan product.
PAYROLL LOAN
This loan module is suitable for salary earners (not neccesarily public servant).
Below are the requirement to access this loan product.
REQUIREMENTS/CRITERIA
You need the following to be eligible for Salary Advance Loan Module:
- Loan amount antitlement is 1/3 of the Net Monthly salary of the Applicant (As stipulated in his/her Employment letter).
- Interest rate of 4% Monthly
- Account Opening Documentation of 3 Recent Passports, Photocopy Of Nepa Bill, Photocopy of any means of I.D Card.
- Introduction letter from the company of the beneficiary
- Two co-staff Guarantors with work and Valid I.D Card + One recent passport with detailed description of the guarantors' houses and offices
- 3 months statement of account of the beneficiary
- Bureau search of minimum of #1,000
- Loan form of 0.5% of the loan amount
REPAYMENT DETAILS
- Repayment tenor of 6 months, which will be deducted from the beneficiary’s salary on a monthly basis.
- Default fine of 10% of the repayment amount (Non- Negotiable)
HOW TO APPLY
- Visit any of our Branches to obtain a loan form or download the form online.
- Have the filled form scan to customerservice@seapmfb.com
- Visit our branch for identification and verification if you downloaded the loan form online
