Employer Guarantee Loan

Employer supported loan – where an employer confirms that the applicant is the employee and they undertake to support the facility by remitting salaries to NBS Bank

Interest Rate
  • Rate + Risk-Based margin
Penalty Interest
  • Base Rate + Risk-Based margin + 10% (for non-payment)
Facility Fees
  • Processing fees 2% min MWK22,000, Disbursement fees 05% of the loan
Term
  • Maximum of 24 Months
Security
  • Letter of undertaking from employer
Account opening requirements
  • Gross income ratio of not more than 65%
  • Letter of salary undertaking or loan deduction from the employer
  • Pay slips for the past three months
  • Salary account must have been maintained for 6 months or more
  • Proof of residents (water or electricity bill)
  • Valid National ID