Employer supported loan – where an employer confirms that the applicant is the employee, and they undertake to support the facility by remitting salary to NBS Bank
Interest Rate
- Base Rate + Risk-Based margin
Cost to Access Facility (as per current Tariffs)
- Processing fee of 2% with a minimum charge
- CRB Fee
- Retrenchment Cover of 0.2%
- Life Cover of 1.74%
Term
- Maximum tenor of 60 Months
Security
- Letter of undertaking from employer
Requirements to access the loan
- Income to instalment ratio of not more than 50%
- Letter of undertaking from the employer
- Three recent payslips
- Salary account must have been maintained for 6 months or more
- Proof of residence (water or electricity bill)
- Valid National ID