Credit facility Credit facility for individual customers
Interest Rate
- Base 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 36 Months
Security
- Cash or Real Estate
Account opening requirements
- Gross income ratio of not more than 65%
- Must have maintained a savings or current account with the Bank for at least one year
- Letter of undertaking from the employer
- Pay slips for the past three months
- Proof of residents (water or electricity bill)
- Valid National ID