MaxAdvance is designed to facilitate personal loans to staff of select corporate and government organizations whose staff salary accounts reside with the bank.
Features and Terms
Purpose: To provide finance for the personal needs of staff of corporate organizations which can be used for the purchase of assets or investments as determined by the borrower.
Domiciliation of staff salary payments from employer.
Equal monthly installments comprising of both principal and interest.
Monthly principal plus interest repayment shall not exceed 35% of monthly salary.
Interest Rate: Competitive Interest rates
Fees: Competitive Interest rates and fees
Domiciliation of staff's terminal benefits to be applied to liquidate any outstanding exposure in the event that staff disengages from his employment for whatsoever reason or Corporate guarantee from the corporate organization covering each loan amount for the tenor of each loan granted to its staff.
Additional comfort: Credit insurance from any other approved insurance company.