Personal loan is a loan that caters for customers requiring access to credit over a fixed term and at a fixed interest rate. This loan is usually given to employees that earn a salary.
- Attractive interest rates
- 5 working days processing period
- Payment period: minimum 1 year to a maximum of 4 years
- Application letter
- Employment contract/service certificate
- Salary certificate
- Pay slips for the last three months
- Copy of ID for the client and spouse
- Request forms
- Repayment capacity 1/3 of total client’s income
- Loan certificate (if its to buy another loan from another Bank)
1. Who is legible for this type of facility?
This facility is offered to any salary earner that has an account with BK and their salary paid through the account at least 3 times.
2. How is interest charged?
We charge interest on a yearly basis but its split out and paid every month for the period given
3. If the loan facility given runs out, can it be renewed?
Yes it can be renewed as long as we are content with your payments.
4. If am unable to clear my loan within the stated time, are you able to give me an extension?
Yes, we can as long as you notify us in advance. If we offer you an extension it can’t be beyond the maximum period provided before and we also have to consider your payment.