This is a type of loan that is used to cover short term liquidity constraints and is totally secured by the client’s deposit in a Savings Account or a Fixed Deposit Account.
Features
- Minimum facility amount of K500 000
- Maximum of 70% for Smart Savers Account and 80% for Prime Investors Account and Fixed Deposit Account
- Loan is repayable within 12 months
- Interest rate is charged at base rate applicable
Benefits
- Same day processing
- Client can make early repayment without any penalties
- Interest rate is charged at base rate only
- No hidden fee
