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
Penalty Interest
- Base Rate + Risk-Based margin + 10% (for non-payment)
Cost to Access Facility (as per current Tariffs)
- Processing
- Disbursement fees
- Life cover fee
Term
- Maximum of 60 Months
Security
- Letter of undertaking from employer
Requirements to access the loan
- Gross income ratio of not more than 65%
- Letter of undertaking from the employer
- Pay slips for the past three months
- Salary account must have been maintained for 6 months or more
- Proof of residence (water or electricity bill)
- Valid National ID