EMPLOYER SUPPORTED LOANS

Employees of the private sector, parastatals, and other government agencies not on civil service payroll. Repayment should be directly from the source.

Application Requirements With Employer's MOU With NEEF 
  • Memorandum and Articles of Association for employer (subscribers)
  • Company profile
  • Minimum of 10 member staff compliment
  • Financial Statements for the employer
  • Employee’s National ID.
  • Employer’s letter of confirmation of status of employment
  • Duly Authenticated Bank Standing Order in favour of NEEF.
Application Requirements Without Employer's MOU With NEEF 
  • A Letter of Commitment from Employer to not change employee salary account within the loan period.
  • Employee’s contract to be stamped and authenticated by a Commissioner for Oaths (applicant to bear the cost)
  • Latest applicant’s payslip.
  • Applicant’s salary account 3-months Bank statement (to assess trend of salary deposits).

Thresh Holds

  • K500,000 to K30,000,000

Repayment Periods

  • 3 to 36 Months  
NO Grace period is applicable 
 

Tariffs and Interests

    •  Processing fee: 5.0%
    • Insurance:1%
    • Interest: 4.5% pm

Turn Around Time 

  • 21 working days