Personal Loan

A personal loan is an advance extended to customers who maintain current accounts with BancABC and has proof of consistent income. It is based on the borrower's credit rating and has a variable interest rate over a fixed term. The capital as well as interest is repaid monthly from the customer's current / savings account over the agreed period.


Qualifying Criteria

  • Existing BancABC account holder for at least 3 months
  • Salary paid into the BancABC Account for the past 3 months
  • Permanently employed, for at least 3 months
  • Customer must be older than 18 years

Qualifying Conditions

  • Minimum qualifying net salary of only US$1000
  • Loan amount subject to one's affordability.
  • Minimum loan amount of US$1000 and Maximum loan amount of US$20 000
  • Repayment period 36 months
  • Repayments to this, and other existing loans should not exceed 40% of net salary
  • Interest rate will fluctuate in relation to market conditions
  • Purchase of goods of choice immediately when need arises thus hedging against inflation
  • Source of funds to bridge unforeseen financial demands
  • It replenishes one's cash flow / liquidity position
  • Full freedom over the usage of the funds
  • Flexibility to manage your cash flow

For any legal & morally right cause of customer choice such as: - Home Improvement - Debt Consolidation - Emergency Needs - Medical Bills

Normally loans are unsecured; however the bank may call for security such as bonds over fixed property, session of investments or any other tangible security based on the amount and your qualifying criteria.


To Apply for Personal Loan

Simply bring the following to any of our branches:

  • Proof of employment ,i.e., pay slip not older than 2 months
  • Positive Identification ,i.e., National ID, Valid passport, Valid driver's license
  • Proof of residence, i.e. Utility bills not older than 3 months
  • Salary redirection letter
  • Surrender of terminal benefits



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