LOANS PRODUCTS

Know more

All loan are processed within 5 working days from the day of submitting a complete application. All loans will be required to be secured with a collateral or a guarantee from a reputable organisation.

LOAN PRODUCTS OFFERED

1. WEALTH CREATION CREDIT LINE: A loan given to Small and Medium Enterprises (SMEs) or films running established legal businesses. It has term of 12 months payable monthly with interest of 4% per month calculated on reducing balance and with minimum loan amount is MK5Million based on board approval.Income and expenditure statements ,Landed property collateral and proof of monthly cash flows .
2. INDIVIDUAL MICROBUSINESS LOAN: This is a short to medium term facility given to ambitious individuals running established businesses. The main objective is to facilitate their growth and help them achieve their goals. The loan has a term of 3 months for the first circle, 6 months for the second circle and 12 months for the third circle. The loan instalments are payable monthly. Interest rate 5% , amount from MK 500, 000 to MK 5, 000, 000 .00 . Should be registered/Unregistered legal businesses both in trading and service industries and run at least for one year. Landed property, Motor Vehicle, Business fixed assets and Households items as collateral.
3. PAYROLL PRIVATE SECTOR: The facility targets salaried individuals from private sector and helps to improve living standards of employees i.e. payment of school fees.Guaranteed by the employer, 12 months term, 4,5% interest rate
4. PAYROLL CIVIL SERVICE: The facility targets salaried individuals from public sector and helps to improve living standard of employees i.e. purchase of household item.Guaranteed by the employer, 36 months term, 4,5% interest rate
5. INVOICE DISCOUNTING LOAN: A short term credit facility extended to suppliers and other business individuals who face cash flow challenges. Facility expires on the invoice due date 5% with a bullet payment.
6. ASSET FINANCING LOAN: A loan product targeting individuals and companies purchasing an Asset. 48 Months, 5% per month.
7. EXPORT FINANCING: A loan product targeting individuals and companies that export goods. Loan term shall depend on the nature of export at rate of 18% per annum.
8. KUMANGA INCREMENTAL HOUSING LOAN: Designed to enable Malawians have access to finance for actual construction. Loan term is 60 months at rate of 4% per annum.
9. WEALTH CREATION BUSINESS GROUP (WCBG) LOAN: A group of 7-15 business people, who are passionate about multigenerational wealth creation.

   Loan Products under WCBG

   (a)Individual Business Loan :

   (a)Individual Emergency Loan :

10. SALARY ADVANCE LOAN: facility targets salaried individuals both in the public and private sector and helps them during emergencies i.e. paying medical bills etc. Maximum loan amount is 40% of your salary , 4.5% per annum.