INTERNATIONAL NGO EMPLOYEES LOAN (INGO)
INDIVIDUAL LOANS
TARGET MARKET
- INGO employees who want to venture into or are already in business.
- Their loan contract or the remaining part thereof cannot be less than the loan term proposed.
OBJECTIVES
- Capturer an unserved market.
- Contribute to economic growth.
CUSTOMER BENEFITS
- Access start-up capital.
- Boost existing business.
- Continued income flow after contract or in-between jobs.
REQUIREMENTS
- National ID.
- Recent color passport-size photo.
- Bank statement for salary account (3 months).
- Letter from employer confirming employment status.
- Copy of Employment contract.
- Three most recent pay slips.
- Personal guarantor physical collateral where appropriate.
- Sketch map of residence.
- Copy of Bank certified standing order/debit order instruction.
THRESHOLD
- Mwk 500,000.00 to Mwk 30,000,000.00 (Depends on applicants repayment capacity).
TENURE
- 6 to 36 Months (subject to three months cushion before contract expiry).
- NO grace period is applicable.
RATES/TARIFFS
- Interest rate – 4.5%.
- Processing and admin fee – 5%.
- Insurance – 1.0%.
COLLATERAL REQUIREMENTS
- Job contract from their organization.
- Motor vehicle where applicable.
- Land, house.
OPENING HOURS
MONDAY – FRIDAY
7:30 AM – 4:30 PM
CONTACT US
NATIONAL ECONOMIC EMPOWERMENT FUND
P.O BOX 779, LILONGWE
PHONE # : +265 999 941 333 | +265 999 938 333
EMAIL: info@neef.mw